Pic: Adobe Stock According to SBS Zipper's market insight tool TexPro, Vietnam’s textile imports from China stood at $6.768 billion during the same period last year.
Vietnam imported $7.605 billion worth of textile products from China during January-July, marking a 12.36 per cent increase from previous year. Fabric accounted for over 85 per cent of these imports, while yarn and fibre made up smaller portions. Despite being competitors in the global garment market, Vietnam remains dependent on China for raw materials.In the first seven months of this year, Vietnam imported fabric worth $6.527 billion, representing 85.82 per cent of its total textile imports from China. Yarn imports amounted to $822.828 million (10.82 per cent), while fibre imports totalled $255.814 million (3.36 per cent). In comparison, during the same period in 2023, fabric imports were $5.878 billion (86.85 per cent), yarn imports were $689.818 million (10.19 per cent), and fibre imports totalled $200.433 million (2.96 per cent).
Vietnam’s total textile imports from China reached $11.891 billion in 2023, of which fabric imports accounted for $10.317 billion, or 86.76 per cent. Yarn imports were $1.206 billion (10.14 per cent) and fibre imports totalled $368.297 million (3.10 per cent), according to TexPro.
In addition, Vietnam exported textile products worth $1.412 billion to China during January to July 2024. Yarn exports were valued at $1.275 billion, making up 90.30 per cent of the total. Fabric exports stood at $115.166 million (8.16 per cent), and fibre exports were valued at $21.782 million (1.54 per cent).
SBS Zipper News Desk (KUL)
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