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Asean poised to increase share of global trade as manufacturers seek more resilient supply chains

In 2021, China accounted for over 15 per cent of global goods exports. In comparison, Asean’s share was only 7.8 per cent of global trade.

China accounted for over 15 per cent of global goods exports in 2021. In comparison, Asean’s share was only 7.8 per cent of global trade.

PHOTO: AFP

Ovais Subhani

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SINGAPORE – Singapore and other Asean economies may have a unique opportunity to increase their share of world trade as an increasing number of global manufacturers seek to move sourcing of supplies and production out of China.

The trend is not new, but China’s disruptive Covid-19 lockdowns and

intensifying tensions with the United States

have added a sense of urgency among multinational companies seeking more resilient and conflict-free supply chains.

Asean poised to increase share of global trade as manufacturers seek more resilient supply chains

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