Vietnam textile imports from India jump 46% to $346 million

Vietnam imported textiles, including yarn, fabric, and fibre, worth $346.312 million in the first three quarters of this year, a 46.61 per cent year-on-year increase. According to Fibre2Fashion's market insight tool TexPro, Vietnam imported $236.051 million worth of textiles during the same period in 2023.

On the other hand, Vietnam’s exports of textile products to India totalled $172.054 million during January-September 2024, an 8.51 per cent decline compared to $188.364 million in the same period last year.

During the first nine months of 2024, Vietnam imported $151.525 million worth of yarn from India, accounting for 43.75 per cent of its total textile imports. Fibre imports were valued at $139.930 million (40.41 per cent), and fabric imports stood at $54.856 million (15.84 per cent) as per TexPro.

Vietnam’s textile exports to India included $63.867 million worth of fabric (37.12 per cent), $63.609 million of fibre (36.97 per cent), and $44.577 million of yarn (25.91 per cent).

In the first nine months of 2023, Vietnam imported $103.891 million worth of yarn from India, representing 44.01 per cent of its total textile imports of $236.051 million. Fibre imports stood at $77.451 million (32.81 per cent), and fabric imports were $54.708 million (23.18 per cent).

Vietnam’s fibre exports to India in the same period last year were valued at $74.092 million (39.33 per cent), yarn exports at $60.501 million (32.12 per cent), and fabric exports at $53.769 million (28.55 per cent).

Bilateral garment trade between the two countries remains negligible as both are major global garment exporters.

ALCHEMPro News Desk (KUL)