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Economy

Southeast Asia's soaring exports fuel hopes of recovery in 2022

Central banks seen shifting to rate hikes to protect home currencies

A port terminal in Singapore. The city-state's exports jumped 24% on the year in November, the fastest rise in a decade.   © Reuters

SINGAPORE -- Southeast Asian countries look poised to continue recovering this year from the economic havoc caused by the coronavirus pandemic, with brisk exports driving the rebound.

The Asian Development Bank forecasts a 5.1% rise in gross domestic product for Southeast Asia this year. That represents an acceleration from the 3% estimate for 2021, when the coronavirus shut down factories in Malaysia and Vietnam during the summer, contributing to global supply chain turmoil.

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