HQTS’ Latest Supply Chain and Trade Updates from Across Asia – Report #16

With a wide range of service locations across Asia, HQTS has collected important supply chain and trade-related information to help you assess the current situation affecting your business.

Here’s how the situation currently looks as the world works to recover from the impact of Covid-19.

China

Mainland China is pretty much completely back to normal and has been for months. However, the country has reported a few new Covid cases in the last couple of weeks. Some flight paths are now being allowed back into China but every person arriving must hold negative test results.

Bangladesh

Restriction policies on traveling, logistics and business operations:

The number of confirmed Covid-19 cases in Bangladesh continues to rise but the government has no plans to implement a new lockdown. Instead, it is emphasising the importance of using face masks to help reduce the spread of the virus.

Financial and trading policies:


Despite the effects of the virus outbreak, Bangladesh is experiencing positive economic growth. The government has a target to become a middle-income country by 2021.

India

Restriction policies on traveling, logistics and business operations:

Cases in India are still increasing, but the recovery rate is also getting better. Most schools are still closed, but it looks likely that classes will begin in mid-November (Monday 16). However, many parents have called for them to remain closed until January 2021.

Financial and trading policies:

India’s consumer goods makers saw an improvement in volumes and revenue in the last quarter which stood at 8.45% compared with 4.45% a year earlier. Demands are still largely driven by food products but personal and home care categories are also slowly recovering.

Vietnam

Restriction policies on traveling, logistics and business operations:

Vietnam is continuing to control coronavirus numbers. However, some citizens that have returned from abroad have contracted the virus and therefore, the active case count in the country has risen to 101.

Financial and trading policies:

The gradual recovery of several major indicators and the ongoing control over the Covid-19 pandemic is showing that the Vietnam economy will grow 6% or more in 2021. The industry grew just 2.3% in August butt expanded 3.5% in September and 3.65% in October.

Malaysia

Restriction policies on traveling, logistics and business operations:

Malaysia’s cases are rising again. Since the beginning of November, the numbers are the highest since the pandemic struck in January. The Malaysian Games, an event scheduled for March 2021, has been cancelled.

Financial and trading policies:

Forecasters are hoping the Malaysian economy bounces back to around 6.5-7.5% in 2021 as the government has unveiled a new budget to support the country’s recovery. The economy contracted by 8.3% in the first half of 2020 which included a decline of 17.1% in the second quarter. The manufacturing sector is expected to grow by 7% in 2021, a change from 3% this year.

The Philippines

Restriction policies on traveling, logistics and business operations:

The Philippines continues to report more cases of Covid-19. Schools are still shut and the country aims to have at least 50 million vaccine doses available next year to help the population recover.

Financial and trading policies:

The country’s economy has shrunk by more than expected in the third quarter compared to a year ago as the pandemic rumbles on. The GDP has shrunk by 11.5% overall after a 16.9% slump in the second quarter. However, analysts are optimistic that the worst is over.

Singapore

Restriction policies on traveling, logistics and business operation:

Singapore is slowly getting back to normal having suffered the effects of the outbreak. Quarantine-free leisure travel between Hong-Kong and Singapore will resume this month, but all passengers will need to undergo a Covid-19 test and provide negative results within 72 hours of their departure.

Financial and trading policies:

Singapore is hopeful its economy is on the road to recovery having contracted by 7% year-on-year in the third quarter of 2020. This rebound was largely driven by the manufacturing sector. Assuming the trend continues, the manufacturing and GDP growth could rise by 5.2% in the final quarter of 2020.

Indonesia

Restriction policies on traveling, logistics and business operations:

Indonesia continues to see a rise in Covid-19 cases but the country has refrained from implementing a full lockdown, opting instead for partial rules in various local regions.

Financial and trading policies:

The economy is in recession and has been hampered by a recent spike in infections. Authorities have predicted that 3.5 million people could lose their jobs due to the pandemic.

Thailand

Restriction policies on traveling, logistics and business operations:

Covid-19 is still well contained in Thailand and the country is beginning to cautiously reopen for tourism with schools also reopening. However, schools have been informed that they may need to prepare for a second wave of infections.

Financial and trading policies:

The economic impact has been severe and it is predicted that Thailand isn’t likely to regain its previous momentum in terms of tourism for another two years.

Pakistan

Restriction policies on traveling, logistics and business operations:

Pakistan is seeing a rise in Covid-19 cases and has imposed mini-lockdowns in some areas of its capital city. The government has said the restrictions will remain in place until there is an noticeable improvement of the situation.

Financial and trading policies

Pakistan’s prime minister is remaining hopeful that the economy will show some recovery quickly but it doesn’t look convincing so far.

Stay tuned for our next trade, tourism and logistics update report to be published in December.

About HQTS

With over 25 years of experience in quality assurance, HQTS is ready to help your business build meaningful and robust supplier relationships across Asia. Our many service locations are prepared to be your one-stop-shop for your inspection needs, including factory audits, production monitoring, pre-shipment and sorting inspections, and everything in between. This will allow you to know exactly what’s happening on the ground and keep close tabs on your suppliers. Contact us today to find out how we can help you navigate current quality control challenges.



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