Vietnam's yarn exports at $2.42 bn in Jan-Aug, China dominates market

Vietnam’s yarn exports to China during the first eight months of this year amounted to $1,444.685 million, representing 59.68 per cent of the total exports. Exports to South Korea were valued at $303.821 million, accounting for 12.55 per cent. Similarly, shipments to the United States totalled $76.682 million (3.17 per cent), to Japan $67.220 million (2.78 per cent), and to Taiwan $63.138 million (2.61 per cent), according to Fibre2Fashion's market insight tool TexPro.

In the corresponding period of 2023, Vietnam’s yarn exports were valued at $2,515.701 million, with China purchasing $1,481.965 million, or 58.91 per cent of the total. Vietnam’s yarn exports to South Korea during this period amounted to $263.180 million (10.46 per cent), to Japan $70.203 million (2.79 per cent), to the United States $68.210 million (2.71 per cent), and to Indonesia $64.748 million (2.57 per cent).

In 2023, Vietnam’s total yarn exports amounted to $3,895.094 million, with China’s share accounting for 60.60 per cent of the total. Other key buyers among the top five were South Korea (10.13 per cent), Japan (2.75 per cent), the United States (2.65 per cent), and Indonesia (2.64 per cent), as per TexPro.

Vietnam also imported fabric worth $764.719 million in the first eight months of 2024. Indonesia was the largest buyer, accounting for 27.05 per cent of the total imports, with shipments valued at $206.835 million. Other significant destinations included China, which received $131.943 million (17.25 per cent), Thailand $94.859 million (12.40 per cent), the United States $52.601 million (6.88 per cent), and India $48.773 million (6.38 per cent).

Fibre2Fashion News Desk (KUL)