Brazilian cotton exports to Vietnam dip, while apparel imports rise

Brazil is one of the major cotton-producing and exporting countries in the world, whereas Vietnam has a strong presence in the apparel export market.

Brazil exported cotton worth $386.222 million to Vietnam in 2023, which constituted 12.57 per cent of its total cotton exports of $3,073.780 million. Notably, Brazil's cotton shipments to Vietnam experienced a significant decrease of 29.37 per cent, falling from $546.795 million in 2022. Despite this substantial figure, Vietnam was not the top destination for Brazilian cotton, as China and Bangladesh accounted for even larger shares, according to Fibre2Fashion's market insight tool TexPro.

The shipment peaked in 2021 at $570.426 million over the last six years. The cotton exports to Vietnam were $252.053 million in 2018, which increased to $355.604 million in 2019 and $518.792 million in 2020. Brazil's cotton shipment to Vietnam defied the downtrend in the COVID years 2020 and 2021.

The country's apparel imports from Vietnam amounted to $95.078 million last year, accounting for 4.94 per cent of its total imports, which were noted at $1,925.250 million. Vietnam was the fourth-largest supplier after China, Bangladesh, and Paraguay.

As per TexPro, the inbound shipment surged by 14.52 per cent from $83.021 million in 2022. The imports from Vietnam had noticed a sharp decline in 2020 when they slipped by 26.02 per cent to $57.614 million from $77.875 million in 2019. They improved by 2.21 per cent to $58.886 million in 2021 and further jumped by 40.98 per cent to $83.021 million in 2022.

ALCHEMPro News Desk (KUL)