Vietnam to import 1.2 milion tonnes of cotton

Vietnam to import 1.2 milion tonnes of cotton

Vietnam, the world’s fifth largest garment exporter, will import 1.2 million tonnes of cotton this year (+ 19 % year on year), an industry official said on July 7, 2016

Vice Chairman Nguyen Son of the Vietnam Cotton and Spinning Association said that most of the imported cotton will come from the United States, which has been Vietnam’s top supplier of the raw material, followed by India, Brazil and Australia.

The move is aimed to meet rising demand from its textile industry while domestic output is insignificant.

According to the trade ministry, Vietnam’s second biggest cash earner after smart phones is its textile and garment exports which is expected to increase by 36 % to USD 31 billion this year.

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