Home / Knowledge / News / Textiles / Imports of cotton growing at breathtaking pace
Imports of cotton growing at breathtaking pace
02
Oct '08
Exports of textiles and garments are increasing at a rapid pace in Vietnam and to keep pace with this growth there has been an corresponding increase in imports of the most vital raw material needed to keep running the engine of its exports; cotton.

Vietnam is able to produce only 2 percent of its annual requirements of cotton and is totally import dependent to feed its ever growing appetite for the white gold due to which it is becoming a most favoured destination for most cotton exporting countries.

The sector imported 171,566 tons of cotton for local production in the period January-July, 2008 totaling to US$ 261.46 million. Import trends indicate that cotton imports are growing faster year-on-year.

In comparison, Vietnam had imported 212,000 tons of cotton, worth US$ 268 million in the whole of 2007, which was also up by 17% in volume and 22.4% in value over 2006.

Within just first seven months of this year, the country is short of just $7 million in surpassing in value , full year figures of the previous year.

During the period, US regained its status as top supplier of cotton to Vietnam when it surpassed India in July because there was a strong drop in imports from India in July. The US was trailing India in the first six months of 2008 in shipments of cotton to Vietnam.

In the first seven months of the current year, imports of cotton from the US reached 57,185 tons valued at $86.77 million in comparison to 63,952 tons and $81.09 million for the full twelve months of the previous year.

India which had topped the cotton exporting country list in the first six months of 2008 had the misfortune of dropping to second place due to a dramatic drop in shipments of cotton in the month of July.

For when matched with 11,391 tons of cotton exported from the US in July, India could manage to export only 622 tons in the same period.

But when corresponded with full year figures of 2007, in the first seven months of 2008, shipments of cotton volume and value wise have already crossed figures of those of 2007 by a very wide margin.

Exports of cotton from India to Vietnam stood at 49,353 tons and $76.11 million in the period under review in comparison to 32,777 tons and $40.17 million for the whole of 2007.

The other cotton supplying countries with major amounts of exports of cotton in the period are Switzerland with 6,426 tons, Taiwan 4,464 tons and UK and Brazil with 3,937 and 3,347 tons respectively.

Click here to veiw detailed import statistics.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search