Atradius reveals most promising emerging markets for 2022

The most promising emerging markets for international trade this year are Uruguay, Ivory Coast, Israel, Qatar and Taiwan, according to trade credit insurer Atradius. In its Promising Markets economic report, Atradius predicts that these five markets will be bright spots for trade in 2022, and offer lucrative opportunities for investors and exporters. 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.” Atradius says all five markets are currently recovering well from the pandemic and their outlooks are generally protected from Covid-19, following low infection rates and/or an extensive vaccination rollout. “While researching this year’s report, we tried to follow a similar methodology to last year and take factors such as economic performance, macroeconomic strength and the Covid-19 situation into consideration,” added Burgess. “The promising emerging markets identified by Atradius are well positioned to emerge with good growth prospects across several sectors with favourable business conditions.” The insurer notes in its report that Uruguay’s economy looks to exceed its pre-crisis levels in 2022, with a 3% growth in GDP forecast. Its successful vaccination rollout has ensured a stable recovery, with tourism continuing to support growth, while the food industry is benefiting from a rise in exports in agriculture and meat production. According to Atradius researchers, Ivory Coast is expected to experience some of the highest GDP growth rates in the world during the coming years. The country is a major agricultural producer, with opportunities in IT services growing due to demand for a more sustainable economic growth model. Israel’s developed economy offers opportunities in the high-tech goods and services industries, says Atradius, with a particular emphasis on the aerospace sector and bright opportunities within the electric vehicle transport sector. The trade credit insurer notes that higher oil and gas prices are due to support Qatar’s economic growth in 2022, with increased demand in the EU due to ongoing political risks, while hosting the 2022 FIFA World Cup will help boost opportunities in the tourism and hospitality industry. Finally, 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, notes Atradius, adding that the worldwide chip shortage looks set to persist throughout 2022, providing ongoing opportunities in this sector. Burgess added: “Although the pandemic continues to disrupt global trade, we are beginning to see a 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.”

Atradius reveals most promising emerging markets for 2022

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