Fabric and garment exports from the Southeast Asian nation increased at 4.6 per cent year-on-year to $23.841 billion last year. Of this, the US alone accounted for nearly 50 per cent or $11.450 billion, followed by Japan and South Korea with exports to these countries valued at $2.9 billion and $2.284 billion, respectively.
Vietnam also exported 1,167,071 tons of yarn earning $2.929 billion during the year, registering an increase of 21.4 per cent and 15.3 per cent year-on-year, respectively, according to the data. Of this, China imported over 55 per cent or $1.65 billion, followed by $92.206 million by India.
On the other hand, Vietnam imported 1,034,046 tons of cotton and 861,380 tons of yarn, valued at $1.662 billion and $1.608 billion, respectively, during the year under review. Fabric imports during the period were valued at $10.482 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $13.753 billion, which is more than half of its export value. (RKS)
ALCHEMPro News Desk – India
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
