A year of extreme supply chain dysfunction in 2021 saw capacity constraints, bottlenecks, sky-high freight rates and supply shortages globally. The forces driving the dysfunction remain in place and look set to only unwind later in 2022. Beyond the short-term supply chain challenges, many emerging markets will also have to grapple with high inflation, rising costs, lower consumer confidence and the rollout of vaccination programmes. A majority of logistics professionals surveyed for the Index see record ocean and air rates, clogged ports, and other supply chain disruption persisting into late 2022, even 2023. Pandemic-related closures and congestion are the biggest issues, in their view, followed by the ocean container shortage, carrier capacity issues, and port infrastructure. At the same time, they see economic recovery as already well underway -- in all regions – even while acknowledging that the pandemic remains a drag on emerging markets countries. The International Monetary Fund sees an uneven recovery for emerging and developing markets in 2022: a continuation of sizzling growth in Asia Pacific; a slight uptick amid modest recovery in sub-Saharan Africa; steady recovery across the Middle East at the same pace as in 2021; and slower growth and recovery in Latin America and the Caribbean.