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Vietnam's cotton imports rise in value & volume this year
09
Oct '13
The imports of cotton by Vietnam have increased both in terms of value and volume during the first eight months of the current year, according to data from the General Department of Vietnam Customs.
 
From January to August 2013, Vietnam imported 385,888 tons of cotton, showing a rise of 44.58 percent year-on-year. In terms of volume, cotton imports were worth US$ 770.752 million, an increase of 31.44 percent year-on-year.
 
The US, India, Australia, Brazil, Ivory Coast, Pakistan, China and Indonesia were the main countries from which Vietnam imported cotton to meet the domestic requirements of its textile industry.
 
The US exported 168,035 tons of cotton to Vietnam during the eight-month period, which is a rise of 104.05 percent compared to the same period last year. In terms of value it was US$ 347.658 million, showing a rise of 85.53 percent year-on-year. 
 
India was the second-largest exporter of cotton to Vietnam with 85,553 tons valued at US$ 158.638 million, registering an increase of 93.54 percent and 79.39 percent, respectively.
 
Australia was the third-largest exporter of cotton to Vietnam with 20,714 tons valued at US$ 45.449 million, showing a growth of 96.55 percent and 87.53 percent, respectively.
 
In recent years, Vietnam’s cotton imports have grown at a fast pace. From imports of about 150,000 tons in 2005, cotton imports grew to 420,000 tons in 2012, making Vietnam among the top five largest cotton importers in the world.
 
The cotton production in Vietnam meets only 1 percent of its domestic demand and hence the country depends on imports to a large extent for its textile industry.
 

Fibre2fashion News Desk - India

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