The other four major suppliers, South Korea, Taiwan, Japan, and Thailand, contributed around 15 per cent to Vietnam's total fabric imports, according to the market insights tool, TexPro, from Fibre2Fashion.
However, Vietnam's fabric imports from China marked a decrease of 28.14 per cent compared to the same period in 2022, when the value stood at $4.943 billion. In comparison, Vietnam imported fabric worth $4.386 billion in January-May 2021, $2.834 billion in January-May 2020, and $3.563 billion in January-May 2019.
In 2022, the total value of fabric imports from China was $11.193 billion. This compared to $10.328 billion in 2021, $8.127 billion in 2020, and $8.817 billion in 2019. Given their geographic proximity, Vietnam relies heavily on China for raw materials. Despite this, the country's primary apparel market is the western world.
As per TexPro, Vietnam's total fabric imports in 2022 were valued at $16.014 billion. In the preceding years, the figures stood at $15.517 billion in 2021, $12.560 billion in 2020, and $14.235 billion in 2019.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
