| Cotton imports have exceeded 1.3 billion USD Cotton imports have increased dramatically |
According to preliminary statistics from the General Department of Customs, Vietnam's cotton imports of all kinds in August 2023 reached 121,869 tons with a turnover of more than 245.15 million USD, down 6% in volume and 8% in value compared to July 2023.
In the first 8 months of the year, Vietnam imported 880,664 tons of cotton of all kinds with a turnover of more than 1.91 billion USD, down 4.3% in volume but down sharply 24.8% in value compared to the same period in 2022.
The average import price in the first 8 months of the year reached 2,178 USD/ton, down 27.3% over the same period in 2022.
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| In the first 8 months of the year, Vietnam imported 880,664 tons of cotton of all kinds. Photo: Internet |
In the first 8 months of the year, Australia was the third largest supplier of cotton of all kinds to Vietnam and is witnessing growth in both volume and value. Specifically, cotton imports from Australia to our country in August reached 62,190 tons with a value of more than 132.64 million USD, up 10% in volume but down 27% in value compared to August 2022.
In the first 8 months of the year, Australia exported 234,555 tons of cotton of all kinds to Vietnam and earned more than 528.5 million USD, up 68% in volume and 28% in value over the same period in 2022 and accounting for 27% in both volume and value of cotton imports into our country.
In 2022, Vietnam spent more than 1.2 billion USD to import this item from Australia, accounting for 31% of Vietnam's cotton import structure in 2022.
Vietnam is the world's third largest cotton importer with a consumption of 1.5 million tons/year, the world's sixth largest fiber exporter and the world's third largest textile exporter - after China and Bangladesh.
In 2022, Vietnam's textile and garment exports will reach 44.5 billion USD, an increase of 11% compared to 2021, and exports of various textile fibers will reach 2.54 billion USD, a slight decrease of 4.3% in volume and 0.2% in value compared to 2021.
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