Vietnam saw a remarkable surge in B2B sales on credit among companies during the past 12 months, with an average of 67 percent of all B2B trade, a 21 percent year-on-year increase, according to the recently released Atradius Payment Practices Barometer survey.
The Southeast Asian country has emerged as a frontrunner in B2B sales on credit, surpassing the 51 percent average in Asia, the Vietnam News reported Wednesday, citing the survey.
The survey said the surge reflected the adaptability of businesses in Vietnam, particularly small and medium-sized enterprises in the agri-food and textile-clothing sectors, as companies strive to enhance their competitiveness in the market.
The Atradius Payment Practices Barometer is an annual survey of B2B payment practices in markets across the world, which is implemented based on in-depth interviews with B2B businesses across Asia, Australia, Europe and North America to provide insights into the payment behaviors of customers.
The 2023 Vietnam report was based on interviews with 211 companies across three industries of agri-food, chemicals and textile-clothing.
