Vietnamese textile and apparel export in Jul reached a new high

In Jul 2022, Vietnamese cotton import dropped by 25% year-on-year but increased 12% month-on-month. Vietnamese yarn imports moved up by 0.29% year-on-year but declined by 0.04% month-on-month, and its exports dropped by 37% year-on-year and 16% month-on-month, respectively. Vietnamese fabrics imports decreased 6.7% year-on-year and 11.9% month-on-month. Vietnamese textiles and apparel exports moved up by 18% year-on-year and 2.7% month-on-month.

1. Vietnamese cotton import moved up month-on-month but declined year-on-year in Jul  

Vietnamese cotton imports in Jul reached 104,900tons, down 25.3% over the same period last year and up 12.2% from the previous month. U.S. was the main source of Vietnam's cotton imports, with 56,448 tons of imports, accounting for 54% of the total imports. Imports from Australia and Brazil reached 26,026 tons and 7,390 tons, accounting for 25% and 7% respectively.

2. Vietnamese yarn import increased slightly year-on-year in Jul

In Jul, Vietnam imported 91,300tons of yarns, up 0.3% year-on-year and stayed flat month-on-month. By country, its yarn imports in Jul were mostly originated from China, China Taiwan and South Korea. Of the total, 55,692tons of yarns were from China, 13,527tons were from China Taiwan, and 7,004tons were from South Korea, accounting for 61%, 15% and 6% respectively.

3. Vietnamese yarn export moved down both year-on-year and month-on-month in Jul 

Vietnamese yarn exports in Jul reached 110,100tons, down 37.3% over the same period last year and 16.1% from the previous month. By country, the exports to China, South Korea and the US were 45,887tons, 10,492tons, and 7,290tons, accounting for 42%, 10% and 7% respectively.

4. Vietnamese yarn net exports declined both year-on-year and month-on-month in Jul

Vietnamese yarn net exports in Jul reached 18,800tons, down by 77.7% from the 84,600 tons the same period last year and 52.8% from the same period last month.

5. Vietnamese fabrics imports decreased year-on-year and month-on-month in Jul

Vietnamese fabrics imports in Jul were 1.10billion USD, down 6.7% over the same period last year and 11.9% month-on-month. By country, its fabrics imports in Jul were mostly originated from China, China Taiwan, and South Korea, of which 690 million USD worth of fabrics were from China, 160 million USD worth of fabrics from China Taiwan and 150 million USD worth of fabrics from South Korea, accounting for 60%, 14% and 13% respectively.

6. Vietnamese textiles and apparel exports value rose both year-on-year and month-on-month in Jul 

Vietnamese textiles and apparel exports in Jul reached 3.683billion USD, up 18% year-on-year and 2.7% month-on-month respectively. By country, Vietnam exported 1,800million USD worth of textiles and apparel to US, 390million USD to Japan, and 300million USD to South Korea, accounting for 49%, 11% and 9% respectively. Based on exports value, Vietnamese textiles and apparel exports in Jul were higher than that in Jan, marking a record high since the beginning of the year.

In conclusion, Vietnamese textile and apparel exports in Jul increased both year-on-year and month-on-month for five consecutive months, and reached the highest level in terms of monthly exports in four years.