According to figures released by the Vietnamese MOIT, the Vietnamese textile industry imported 414,000 tons of yarn in 2008 worth US $788 million to feed its production units. These figures show a drop of 2.4 percent in volume but 6.3 percent growth in value compared to 2007.
During the year, the import price of yarn saw an increase of 8.8 percent on an average from most of the supplying markets, more so because of the sharp increase in the price of crude oil in the first three quarters of 2008.
Local experts opine that the industry will be still importing a similar quantity of yarn in 2009 for its requirements as domestic production of yarn is limited and is not able to keep pace with demand from the ever growing appetite of the export sector.
Fibre2fashion News Desk - Vietnam
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