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The pandemic has created supply and demand mismatches, and reallocated global demand from services to goods. As a result, supply disruptions have emerged alongside the global recovery.
Asia, however, has been less affected than other regions, as reflected by smaller increases in delivery times by suppliers in the manufacturing sector in February to April 2020. Delivery times have remained moderate since May 2020. What's more, deliveries are now faster than they were on average globally over 2016–2021 in the People's Republic of China, Indonesia, India and Thailand.
In the Republic of Korea, the Philippines, Viet Nam and Malaysia, delivery times are longer, but less than in the euro area, the United States, and several other advanced economies.
There are at three reasons why Asia's supply chains have not been as disrupted as elsewhere. First, demand in Asia did not shift from services to goods as much as it did in the United States. Services activity in the region continued to be hindered by COVID-19 mobility restrictions in 2021. - blog.adb.org/blogs
A version of this article appears in the print on April 28, 2022, of The Himalayan Times.
