According to statistics from the Ministry of Industry and Trade of Vietnam, Vietnam imported 140,000 tons of cotton in January 2018, with a value of US$244 million, a year-on-year increase of 49.7% and 51.1% respectively. Imports mainly come from the United States, India, Australia, Brazil, and Cote d’Ivoire.
In 2017, Vietnam imported 1.3 million tons of cotton, worth US$2.3 billion. Exports of textiles and clothing totaled US$31 billion, and exports to China continued to grow. China is one of the top five regions for Vietnam’s textile exports.
Data show that Vietnam’s textile imports from China reached US$9 billion in 2017, accounting for 42.7%, an increase of 12 percentage points year-on-year. This includes more than $6 billion in silk, $2 billion in leather, and $800 million in yarn.
Data from the Vietnam Textile and Clothing Association show that Vietnam’s textile exports to China have grown steadily in recent years, increasing from US$2.2 billion in 2015 to US$3.2 billion in 2017, and will continue to increase in the future. According to the ASEAN Free Trade Area Agreement, China imports textiles from Vietnam tax-free, while imports from India and Pakistan are subject to 3-5% tariffs. Vietnam’s cotton imports surge and textile exports to China grow rapidly
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