Taiwan among most ‘promising markets’ for 2022

Uruguay, Côte d’Ivoire, Israel, Qatar, and Taiwan have been named by Atradius as bright spots for trade in 2022.

In its Promising Markets economic report, the credit insurer predicts that these five markets will offer lucrative opportunities for investors and exporters this year.

As it stands, all five markets are recovering well from the pandemic and their outlooks are generally protected from COVID-19 following low infection rates and/or an extensive vaccination rollout.

James Burgess, head of Commercial for Atradius UK, commented: “After more than two years dealing with the repercussions of COVID-19 and the associated lockdowns and restrictions on the global economy, it’s positive to see some economies around the world learning to live with the virus.

“This resumption of economic activity means that 2022 is looking much more promising than 2021, but supply chain disruptions, soaring inflation and the reversal of monetary stimulus will continue to challenge international trade in 2022.

The outlook for businesses in Taiwan is positive, supported by good infrastructure, advanced manufacturing capabilities and a high level of innovation, especially in the technology sector.

The worldwide chip shortage looks to persist throughout 2022, providing ongoing opportunities in this sector. Moreover, high-tech services is an increasingly important sector driven by the shifting consumer behaviour towards more digital adoption.

Burgess added: “Although the pandemic continues to disrupt global trade, we are beginning to see gradual and prolonged economic recovery. Having compared and evaluated success over the past year in a variety of sectors, it’s apparent that the renewable energy, technology, and transport sectors pose a number of opportunities.

”Success in these industries will depend on how well businesses adapt to change and demand and whether they have a comprehensive risk management plan.”