Business

Vietnam’s Textile Imports Slow Down, Exports Rise

In June 2022, Vietnamese cotton imports dropped by 35.8% year-on-year and 22.4% month-on-month. Vietnamese yarn imports moved down by 1.6% year-on-year and 10.8% month-on-month, and its exports dropped by 23.6% year-on-year and 3.9% month-on-month, respectively. Vietnamese fabrics imports decreased 6.2% year-on-year and 18.4% month-on-month. Vietnamese textiles and apparel exports moved up by 17% year-on-year and 13.1% month-on-month. The export value was second only to the highest level of US$ 3.6 billion in January 2022, the second highest in the first half of 2022. Vietnam’s cotton imports down Vietnamese cotton imports in June reached 93,500 tons, down 35.8% over the same period last year and 22.4% from the previous month. US was the main source of Vietnam's cotton imports, with 53,681 tons of imports, accounting for 57.4% of the total imports, followed by Brazil and Australia, accounting for 17.2% and 9.9%, respectively. Vietnam yarn imports down too In June, Vietnam imported 91,300 tons of yarns, down 1.6% year-on-year and 10.8% month-on-month respectively. By country, its yarn imports in June mostly originated from China, Taiwan and Korea. Of this total, 59,919 tons of yarns were from China, 12,695 tons from Taiwan, and 5,197 tons from Korea, accounting for 65.6%, 13.9% and 5.7% respectively. Vietnam’s yarn exports fall Vietnamese yarn exports reached 131,200 tons, down 23.6% over the same period last year and 3.9% from the previous month. By country, the exports to China, South Korea and India were 47,850 tons, 13,914 tons, and 8,604 tons, accounting for 36.5%, 10.6% and 6.6% respectively. Vietnam’s fabric imports drop Vietnamese fabrics imports in June were US$ 1.302 billion, down 6.2% over the same period last year and 18.4% month-on-month. By country, its fabrics imports in June were mostly from China, Taiwan, and South Korea, of which US$ 850 million worth of fabrics were from China, US$ 130 million worth of fabrics from Taiwan and US$ 160 million worth of fabrics from South Korea. Vietnam textile and apparel exports up Vietnamese textiles and apparel exports in June reached US$ 3.586 billion, up 17% year-on-year and 13.1% month-on-month respectively. By country, Vietnam exported US$ 1,800 million worth of textiles and apparel to the US, US$ 330 million to Japan, and US$ 200 million to South Korea, accounting for 50.2%, 9.3% and 5.7% respectively.