Vietnam is one of the major countries in which the Indian cotton industry is associated with the import and export of cotton. Any changes that take place in Vietnam regarding cotton import and export have an impact on the Indian industry as well. Let us know the current status of cotton import and export industry in Vietnam.
According to a recent report based on CCF Imports and Exports, cotton imports in Vietnam declined by 23.8 percent year-on-year in May, while it increased by 24.1 percent on a month-on-month basis, according to the same report. and now it has increased to 1,20,400 tonnes. While looking at the yarn data, the report says that yarn imports have registered a growth of 9.1 percent on a month-on-year basis and 22.4 percent on a month-on-month basis. Looking at yarn exports, there has been a decline of 18.3 percent year-on-year and 6.7 percent month-on-month, respectively. In contrast, clothing imports grew by 5.9 per cent year-on-year and 9.9 per cent month-on-month.
Vietnam's textile and apparel exports grew 23.2 percent year-on-year and 0.6 percent month-on-month. Compared to April, apparel exports declined 3.6 percentage points year-on-year this month and 2.7 percent month-on-month.
report conclusion
The conclusion of this CCF report is that Vietnam's textile and apparel exports showed positive growth in May. However, there has been a decline in year-on-year and month-on-month as compared to April. The profits of Vietnamese cotton yarn mills have also declined due to rising cotton prices.
At a glance, understand this report of May like this
- Decline in cotton imports
Yarn import boom
- Decline in yarn exports
- Increase in textile exports
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