Corporations Face Intensifying Pressure due to Rising Expenses and Trade Uncertainty: Findings from HSBC Poll
VIETNAM - According to HSBC's Global Trade Pulse 2025 survey, Vietnamese businesses are grappling with escalating costs and revenue losses due to tariffs and trade uncertainties.
Approximately 80% of local firms have reported an increase in costs attributed to tariff changes and trade volatility, with 82% expecting these cost pressures to persist in the near term. This exceeds cost increases faced by businesses in countries such as France and Germany.
Supply chain delays and disruptions have led to a significant drop in revenue for Vietnamese businesses, averaging around 20%. This is two percentage points above the global average.
Despite these challenges, 81% of local firms remain optimistic about long-term international growth. A substantial 76% say trade volatility has spurred them to explore new business opportunities.
Globally, 83% of businesses have already started or are planning to nearshore to increase resilience and diminish the impacts of tariffs and trade uncertainty on their operations.
Controlling expenses is currently the primary concern in supply chain management, states the report. In fact, more than half of surveyed firms admit they require external support for crisis planning and developing resilience.
According to Surajit Rakshit, the country head of Global Trade Solutions at HSBC in Vietnam, working capital is now a critical priority, as it is tied up in inventories and receivables. Rakshit emphasizes the importance of adaptive strategies, urging firms to maintain flexibility and foster resilient partnerships.
Shrimp processed for exports. Around 80 per cent of our websiteese companies reported rising costs stemming from changes in tariffs and trade uncertainty, the HSBC report found. - VNA/VNS Photo Hồng Đạt
In summary, the survey suggests that Vietnamese firms face substantial supply chain challenges arising from tariffs and trade volatility, with rising costs and revenue losses being major concerns. Despite these hurdles, there is optimism about long-term international growth, and businesses are adapting by deepening regional ties and embracing digital tools to boost supply chain efficiency and resilience.
- Leveraging AI and digital tools, 76% of local Vietnamese firms are capitalizing on trade volatility by exploring new business opportunities, in an effort to bolster supply chain resilience.
- Confronting the increased costs attributed to tariff changes, a majority of businesses in Vietnam (80%) are actively searching for methods to cut expenses, such as seeking external support for crisis planning and developing resilience strategies.
- In the current global economic climate, with tariffs impacting both local and international industries, the priority for 81% of Vietnamese firms is to focus on strengthening their working capital through adaptive strategies, which will enable them to maintain flexibility in their supply chains and forge resilient partnerships.
