According to Fibre2Fashion's market insight tool TexPro, Vietnamese silk exports to India have seen a significant jump after the pandemic. The shipment was noted at $65.451 million in 2018, which increased by 11.22 per cent to $72.797 million in the following year, 2019. However, it decreased by 36.11 per cent to $46.513 million in 2020. It bounced back, jumping 60.41 per cent to reach $74.614 million in 2021. It continued to rise by 57.26 per cent to $117.338 million in 2022 but the trade eased by 6.06 per cent to $110.229 million in 2023.
The analysis of textile trade based on the type of material between the two countries shows that the shipment of man-made textiles was $68.099 million in 2023, which was 27.54 per cent of the total. Cotton textile exports to India were $53.717 million (21.72 per cent) in the same year. The shipment of textiles made from wool-animal hair was $0.175 million, flax $0.139 million, and others $14.945 million in the year, as per TexPro.
Product-wise analysis shows that fibre exports to India from Vietnam dominated, with a share of 39.28 per cent of the total shipment. It was valued at $97.143 million in 2023. The shipment of fabric was $75.865 million (30.68 per cent) and yarn $74.298 million (30.04 per cent of the total).
ALCHEMPro News Desk (KUL)
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