During the same period, Vietnam’s yarn exports fell 25.6 percent to $2,063,717 million over the same period last year. In terms of volume, the whole country exported 832,273 tons of yarn, down 2.5% over the same period last year.
In the first half of 2023, Vietnam’s textile and garment exports fell 15.4%, although June increased by 4.9%. Yarn exports also fell 25.6% to $2,063.717 million. The US, Japan and South Korea are major textile markets, while China and India lead in yarn. Although textile and garment exports in 2022 increased by 14.7%, they did not meet the target of 43 billion USD.
Particularly in June 2023, yarn exports decreased by 3.9% to USD 375,666 million and exported yarn volume also decreased by 3.9% to 154,004 tons.
The United States accounted for a significant share of 44.21% of Vietnam’s textile and garment exports in the first half of this year, totaling $6,955 billion. Japan and South Korea are also key markets, with export turnover of $1,751,742 million and $1,339,314 million, respectively.
Regarding yarn exports, China received 50.41% of Vietnam’s output, with a total value of US$1,040,535 million. India is another major market, with shipments reaching $38,359 million in the first half of 2023.
In 2022, Vietnam’s textile and garment exports grew 14.7% over the same period last year, reaching 37.5 billion USD, lower than the target of 43 billion USD. In 2021, these export items totaled 32.750 billion USD, up 9.9% compared to the export level of 29,809 billion USD in 2020. Meanwhile, yarn exports in 2022 increased by 50.1% to 5.609 billion USD, up from 3.736 billion USD in 2020.
Under a positive market scenario, Vietnam aims to export $48 billion worth of textiles and garments by 2023, according to the Vietnam Textile and Apparel Association (VITAS).
Fiber2Fashion News Desk (KUL)
