B2B payment practices trend, Vietnam 2023

The 2023 Payment Practices Barometer survey for Vietnam was conducted between the end of Q2 and the beginning of Q3 2023, and findings should therefore be viewed with this in mind.

Key takeaways from the report for Vietnam 

Surge in trading on credit sparks strong risk mitigation strategy

• A remarkable surge in B2B sales on credit among Vietnam companies during the past 12 months highlights the dynamic nature of the market’s business landscape. An average 67% of all B2B sales are now transacted on credit.
   
• The surge in credit sales clearly increased the risk of being  impacted by poorer B2B payment practices and a staggering 89% of businesses polled said the main reason for late payments was liquidity shortages among B2B customers.

Widespread optimism despite concerns about global economy

• Optimism about prospects for the year ahead among Vietnam businesses was clearly evident across all the key indicators. 85% of companies polled, for example, said they anticipate an increase in demand for their products and services.
   
• 68% of businesses polled also said they expect an increase in profitability during the coming months. The rest see either no change or a decline in profit margins, with negativity most often expressed in the chemicals sector due to worries that the volatility of energy prices may continue to affect  production costs.

The Atradius Payment Practices Barometer is an annual survey of business-to-business (B2B) payment practices in markets across the world. Its findings can give valuable insights into the current dynamics of corporate payment behaviour in B2B trade. It can also help companies doing business, or planning to do so, in the markets polled to identify emerging future trends in the payment practices of B2B customers. 

Interested in finding out more?

For a complete overview of the 2023 survey results for Vietnam, please download the full report available in the related documents section below. The Statistical Appendix to the regional report is also available for download in the section below.

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