Vietnam’s revenues from textile and garment exports are expected to be up 14 per cent over the previous year. The escalating trade tensions between the United States and China have given Vietnam an opportunity to increase apparel exports to the United States. Garment exports from Vietnam to the United States in the first eleven months of ’18 were up nine per cent over the same period last year.

China, South Korea and Turkey account for 80 per cent of Vietnam’s total cotton yarn exports. Vietnam’s cotton imports are up 26 per cent. The country’s top five cotton suppliers are the United States, India, Brazil, Australia, and Cote d‘Ivoire. These countries make up 70 per cent to 80 per cent of the total cotton supply to Vietnam.

Vietnam’s cotton consumption continues to increase. Eighty per cent of cotton imported into Vietnam was spun into cotton yarn for export, while the rest was made into yarns of various types for domestic consumption. Vietnam’s cotton consumption is expected to rise 10 per cent due to recent developments in the textile and spinning sector. The textile and garment sector is one of the country’s top export industries, significantly contributing to the gross domestic product.