Vietnam trade confidence index drops two grades: HSBC

Vietnam ranked the fifth among 17 countries and territories on Trade Confidence Index (TCI) in the second half of 2010, dropping two grades from H1, Hong Kong and Shanghai Banking Corporation (HSBC) said on its latest semi-annual survey.

The Southeast Asian country gains 122 points of the total 200, standing behind India (140), UAE (125), Mexico (124) and Indonesia (124) in the HSBC ranking.

The latest survey indicated that the rate of Vietnamese respondents thinking trade volume to rise in the next six months fell to 46% while the proportion worrying about trade volume to decrease doubled to 8%.

As many as 67% of Vietnamese small and medium-sized import-export enterprises also said that they will need more financial assistance for trade activities, down from 74% in the first half of this year.

About 66% of local firms believed that forex rate fluctuations will have negative impacts on their businesses in the next six months, up from 53% in the previous survey.

The latest survey involved 5,124 SMEs in 17 markets of Canada, Australia, Brazil, mainland China, France, Germany, Hong Kong, India, Indonesia, Malaysia, Mexico, Saudi Arabia, Singapore, Vietnam, the United Kingdom, the United States, and the United Arab Emirates. – Vneconomy

Tags: Vietnam trade confidence index

Posted by VBN on Oct 26 2010. Filed under Trade. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry