[January 29, 2014] |
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Panjiva Uncovers Optimism in New Trade Study
NEW YORK --(Business Wire)--
Panjiva,
the data company enabling global trade, today unveiled The
State of Trade in 2014, which highlights key concerns, challenges
and opportunities those engaged in global trade are facing in the coming
year. Based on a survey of buyers, sellers and people who research or
analyze trade worldwide, the report found that respondents were
generally optimistic about both the state of trade and the economy in
2014 and expected to spend more in the year ahead as they invest in
growth.
While the findings of the report indicate optimism about the economy,
respondents did express concern about two economic issues: rising wages
in manufacturing hotspots and the lingering possibility of a slump in
global demand. In fact, more than a quarter of respondents are concerned
with rising wages in manufacturing hotspots like China, where wages are
rising steadily according to research from the International Relations
and Security Network. Further, the possibility of a slump in global
demand continues to cause unease for more than 20 percent of buyers and
suppliers, which was also a concern in Panjiva's inaugural 2012 study.
Other key findings from the report include:
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China remains a sourcing powerhouse, for now - while nearly all
buyer rspondents currently source from China, almost three quarters
(74 percent) are actively looking for suppliers outside of China
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Africa and Asia might be the next sourcing hotspots - close to
a quarter (22 percent) of buyers pointed to Vietnam as their next hot
sourcing region, and nine percent called out Africa, which was not
called out as a destination in the inaugural report
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Factory conditions don't deter Bangladesh sourcing - while the
Bangladesh factory collapse and several other significant incidents
made global news, it does not appear that there has been an exodus
from the region
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Suppliers remain interested in the U.S. market - while
suppliers are challenged by price pressure from competitors and around
70 percent cite matching prices as a key hurdle, they still hope to
engage with the U.S.
"While people have been talking about it for years, it's clear that we
are finally on the path to economic recovery, yet those involved in
global trade still have some warranted concerns," noted Josh Green, CEO
of Panjiva. "The rising costs of manufacturing will create inflationary
pressure and lead sourcing executives to seek out new regions where they
can find lower costs."
The State of Global Trade in 2014 report is currently available for free
download on Panjiva's website.
The report is based on a survey of 100 trade professionals conducted in
December 2013. The respondents represent buyers, suppliers and others
engaged in global trade from companies of all sizes from around the
world.
About Panjiva Panjiva powers the business of global trade.
Panjiva's powerful data platform is making global trade more efficient
and more transparent for buyers, suppliers, service providers and
researchers. By making sense of diverse, fragmented data sets to make
the process of analyzing the data more efficient, Panjiva provides an
unmatched level of insight on the companies, products and trends shaping
global trade. With more than a million unique online visitors each month
and 5,000 paying users across a wide variety of industries, Panjiva is a
trusted resource to gain insight into, and make contact with, more than
6 million companies that make 35 million unique products. Panjiva was
founded by CEO Josh Green and CTO James Psota. Panjiva has received
equity investments from Battery
Ventures and Harrison
Metal. For additional information, visit: http://panjiva.com.
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