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Qima_Barometer_Q2_2023_EN_v2.pdf
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📊 Size: 5.72 MB
📄 Pages: 9 pages
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Summary

China's factory activity is recovering after the lifting of "zero COVID" restrictions, with a 3% YoY expansion in demand for China inspections and audits globally in Q1 2023. Emerging regions, such as Asia and Latin America, drove this growth with 37% and 20% YoY increases, respectively, while US and EU buyers only saw a 2% YoY increase. Despite this, Western brands are still diversifying away from China, with 61% and 58% of US- and EU-based respondents reporting lower China buying volumes in Q1 2023. Competition among Asia's supplier markets is expected to intensify, with Vietnam facing strong competition from neighbors like the Philippines, Cambodia, Thailand, and Indonesia. India and Bangladesh are also becoming increasingly important supplier regions, particularly for US-based buyers.

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China's factory activity is recovering after the lifting of "zero COVID" restrictions, with a 3% YoY expansion in demand for China inspections and audits...

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  • File Format: PDF
  • File Size: 5.72 MB
  • Pages: 9
  • Language: EN
  • Total Downloads: 125
  • Last Updated: 1 month ago

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