Regarding exports to emerging economies, although those to the NIEs and the ASEAN economies, for example, continue to increase, those to Russia have decreased significantly and those to China have been pushed down due to the impact of lockdowns, such as in Shanghai. Meanwhile, with the impact of the pandemic waning, the nonmanufacturing industry continues to pick up, particularly in the face-to-face services sector.
This is in contrast to microcredit, where in the past notfor-profit institutions and the integration of credit with income generation were preferred. Notfor-profit entities such as the Bill Gates Foundation have extended full support to the global initiatives in this regard. Fourth, the coverage of financial inclusion has been expanded from households to include small enterprises, small businesses and some organisational forms.