Such demand was even more vigorous among businesses in emerging markets, particularly in Latin and South America (plus 60 per cent YoY), where imports were boosted by domestic demand as well as US nearshoring initiatives.
Founded in Hong Kong in 2005, testing, inspection, certification, and compliance company QIMA has 60 offices and labs, and operates in over 100 countries.
QIMA data suggests that China remained a key sourcing partner of global supply chains in 2024, with robust growth in inspection and audit demand from buyers worldwide (plus 29 per cent YoY), across all major consumer goods categories.
Demand for China inspections and audits from EU-based buyers rose by 22 per cent YoY last year, with American businesses only slightly behind at 17-per cent YoY rise.
This suggests that despite the ongoing supply chain shifts, western brands and retailers still regard China as a reliable fallback when manufacturing capacity runs short in other supplier hubs across Asia and near-shoring regions, a QIMA release noted.
The anticipation of new US tariffs on Chinese goods may have also driven the increased demand for China procurement in 2024.
Some Western brands and retailers, in particular, have reported stocking up on made-in-China goods, building up inventory buffers to minimise business disruptions during any potential re-routing of sourcing.
Other brands and retailers, meanwhile, are adopting a wait-and-see approach, recognising that replacing China as a source won’t be possible overnight.
The next stage of the US-China trade war—which is highly likely, given the current geopolitical climate—is expected to be a major factor in how global supply chains approach China sourcing in 2025, QIMA added.
ALCHEMPro News Desk (DS)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
