Bergen Record’s BizBlog
April 16, 2012
A manufacturers group report last week further confirmed what has been going on for several years. Importers who sell to major American retailers say they have moved, or plan to move, a portion of their manufacturing outside of China because of the rising cost of raw materials and logistics, as well as the problems China-based factories face in obtaining financing.
According to Capital Business Credit’s Global Retail Manufacturers and Importers Survey, 50 percent of U.S.-based importers have moved some of their manufacturing outside of China and 34.2 percent are considering moving manufacturing outside of the continent.
The good news for the United States is that more of these companies are looking to relocate to this country.
When asked which countries manufacturing is being moved to, Vietnam was most popular at 33.3 percent and the United States was also cited by 27.8 percent of those surveyed.