Vietnam loses 10 points on HSBC Trade Confidence Index 2010

Illustrated photo. Source: agro.gov.vn (CPV) – A latest survey on the Trade Confidence Index in 2010 published by HSBC reported that Vietnam posted 122 points (out of 200), decreasing by 10 points from the previous survey in March and April. The reason for the decrease is because local export and import businesses feared a possible reduction in foreign exchange trading volume in the next six months and are more cautious about the targeted potential market. The survey showed that Asia is still the focused market of Vietnamese businesses with 58% of them trading with China, 38% with the rest of Asia, and 34% with Southeast Asia. 46% of Vietnamese export and import businesses believed that trade volume would rise slightly in the next six months, the survey indicated. According to the survey, the global Trade Confidence Index now stands stable at 116 points. Vietnam is still in the top five, losing the third position and stands behind India, UAE, Mexico and Indonesia. This is the second survey of HSBC in 2010 and the fourth survey since 2009. It was conducted in 17 markets, including the key markets in Asia Pacific, the Middle East, Latin America, the US, Canada, and Europe, with the participation of 5,124 small and medium enterprises operating in export and import areas. 300 Vietnamese businesses, mainly from Hanoi and Ho Chi Minh City joined in the survey.