Growth in global trade is expected to increase only marginally in the rest of 2016, with uncertainty brought on by the UK’s Brexit vote as well as relatively modest economic growth expected from China.
China Inspection Growth Asia Inspection saw a 7% growth in China’s inspection and audit volumes – in line with China’s GDP growth forecast. One of the drivers for inspection growth in China is the increase in production for local consumption. The government is pushing for better design and higher quality to meet international standards. However the data shows that quality is still a big issue for these locally targeted products. Failure rates for these brands increased by 28% yoy. In the rest of Asia, inspections are also increasing and quality still remains a concern. Failed inspections rose by 25% in India and 42% in Pakistan yoy.
