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Vietnamese businesses remain optimistic on trade prospects: HSBC
A survey released Thursday by Europe’s largest bank HSBC showed 65 percent of Vietnamese businesses expected trade volumes to grow over the next three months.
The survey also said 63 percent of businesses in Vietnam believed the global economy would expand.
Overall, the HSBC Trade Confidence Index, which surveyed more than 3,500 small and mid-market businesses in 12 major global markets, showed growing confidence in the state of global trade, the bank said.
The survey showed an overall positive outlook with an average global reading of 110 on a scale of zero to 200, with 100 as a neutral reading, HSBC said.
Vietnam came in at 110 on the index, up from 108 in the second quarter and tied with Brazil and Singapore.
The HSBC survey showed confidence was highest in China, which reached 121 on the index, followed by Indonesia at 120 and the United Arab Emirates at 118. Malaysian businesses were the most pessimistic with a reading of 92.
“We are seeing signs of what could be the start of a global trade recovery,” said William Nowicki, head for trade and supply chain at HSBC-North America.
The survey said companies expect more orders and better access to credit and hold a stable outlook on buyer and seller risks, Nowicki said.
World trade fell dramatically beginning in late 2008 as both consumers and businesses cut back on spending in response to the worst economic downturn in decades.
Thanh Nien, Reuters
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