"In January 2019, export value of textiles and garments reached $2.65 billion, decreasing 4.3 per cent month on month. However, it increased 6.4 per cent year on year. In 2018, export value of Vietnam’s textile and garments amounted to $3.04 billion, increasing 16 per cent year on year. Growth rate increased 6 per cent. Cotton imports totaled 1.56 million tonne increasing by 20 per cent month on month."

Textile and garment exports from Vietnam increased 16 per cent to $30.4 billion in 2018. Cotton import volumes increased 20 per cent to 1.56 million tonne and fabric import went up 11.14 per cent to $12.7 billion. The import of Brazilian cotton has risen 54 per cent and US cotton decreased 3 per cent.

Vietnam textile and garment increases 16 per cent in 2019

In January 2019, export value of textiles and garments reached $2.65 billion, decreasing 4.3 per cent month on month. However, it increased 6.4 per cent year on year. In 2018, export value of Vietnam’s textile and garments amounted to $3.04 billion, increasing 16 per cent year on year. Growth rate increased 6 per cent. Cotton imports totaled 1.56 million tonne increasing by 20 per cent month on month

Increase in imports of Brazilian and Indian cotton

The import volume of Indian cotton in Vietnam declined during Nov and Dec, 2018. During this period, Vietnam mainly imported US and Brazilian cotton. This was mainly attributed to the influence of Sino-US trade war and the expectation of allocation of additional quotas in China. China procured much Australian and Brazilian cotton, so the import of Vietnam changed much since Oct 2018.

Cotton imports growth

US cotton, with the lower basis, was imported more during 2018-end in Vietnam. The country imported 744.4kt of US cotton, 226.7kt of Indian cotton 181.6kt of Brazilian cotton and 170.7kt of Australian cotton. Imports of Brazilian cotton increased to the third position in 2018. Its import proportion was 54 per cent of US cotton, 16.7 per cent of Indian cotton, 13.2 per cent of Brazilian cotton and 12.3 per cent of Australian cotton. In terms of unit price, prices have fallen down generally since October 2018. Compared with Cotlook A Index, the imported cotton prices in Vietnam lagged behind about one to two months, which was related to the booking date and shipment.