Viet Nam among top three buying geographies of U.S. enterprises
VGP - A new report finds that 43 percent of U.S.-based respondents cited Viet Nam among their top three buying geographies as of early 2021, doubled from 2019, according to the U.S. based Material Handling & Logistics Magazine.
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The article stated that Viet Nam saw its popularity among Western buyers grow by leaps and bounds over the past few years – a trend that has remained in effect so far in 2021.
The data shows a 16 percent year-over-year (YOY) increase in demand for inspections and audits in Viet Nam in Q1 2021, which represents a third consecutive quarter of growth that had initially begun as a post-lockdown rebound in mid-2020.
It is worth noting that this growth is more than just a return to pre-pandemic levels, as Q1 2021 inspection demand has, on average, doubled compared to Q1 2019, the Material Handling & Logistics Magazine highlights.
Furthermore, the appetite for Viet Nam sourcing is far from satisfied and is poised to redefine the sourcing landscape in 2021: around one-third of buyers globally and 38 percent of U.S.-based buyers name it among countries from where they plan to buy more in 2021.
In Q1 2021, the U.S. was Viet Nam’s biggest importer as it splashed out US$21.2 billion on Vietnamese products, or 32.8 percent higher than the amount it spent in the same time last year.
By Thuy Dung
