In Jan 2022, Vietnamese cotton imports rose by 16.4% month-on-month and 3.4% year-on-year, and Vietnamese textiles and apparel exports moved up by 34.2% year-on-year.

1. Vietnamese cotton import increased in Jan compared with both a year and a month earlier

Vietnamese cotton imports in Jan reached 127,700tons, up 3.4% over the same period last year and 16.4% from the previous month. India was the main source of Vietnam's cotton imports, with 30,000 tons of imports, accounting for 23.9% of the total imports, followed by Brazil and Australia, accounting for 21.7% and 20.7%, respectively.

2. Vietnamese yarn import dropped in Jan month-on-month and year-on-year

In Jan, Vietnam imported 93,400 tons of yarns, down 16.8% year-on-year and 16.1% month-on-month respectively. By country, its yarn imports in Jan were mostly originated from China, Taiwan and Thailand. Of this total, 54,800tons of yarns were from China, 12,700 tons from Taiwan, and 6,200 tons from Thailand.

3. Vietnamese yarn export moved up month-on-month in Jan

Vietnamese yarn exports reached 144,200tons, down 12.4% over the same period last year but up 16.4% from the previous month. By country, the exports to China, South Korea and the United States were 63,600tons, 15,800tons, and 10,900tons respectively.

4. Vietnamese yarn net exports rose sharply month-on-month

Vietnamese yarn net exports reached 50,800tons, down 2.8% year-on-year but up 300.9% month-on-month respectively.

5. Vietnamese fabrics imports increased month-on-month and year-on-year in Jan

Vietnamese fabrics imports in Jan were 1.392 billion USD, an increase of 25.7% over the same period last year and 1.1% month-on-month. By country, its yarn imports in Jan were mostly originated from China, China Taiwan, and South Korea, of which 961 million USD worth of fabrics were from China, 148 million USD worth of fabrics from China Taiwan and 141 million USD worth of fabrics from South Korea.

6. Vietnamese textiles and apparel exports value improved evidently in Jan

Vietnamese textiles and apparel exports reached 3.57 billion USD, up 34.2% year-on-year but down 1.2% month-on-month respectively. By country, Vietnam exported 1.852 billion USD worth of textiles and apparel to US, 314 million USD to South Korea, and 298 million USD to Japan.

7. Vietnamese textile and apparel mills saw good orders in early-2022

The operating rate of Vietnamese yarn mills reduced in end-Jan due to the Chinese lunar New Year holidays while the cargos of Vietnamese cotton yarn were higher than those in same period of past years because of ample orders in textile mills who had orders filled till end-Q2.  

The person in charge of the Ho Chi Minh City Labor Market and Human Resources demand forecasting Center said that the improvement in the labor market after the holiday was mainly due to the adoption of measures in Ho Chi Minh City to flexibly adapt to the new situation and to take epidemic prevention and control measures. The acceleration of vaccination and more scientific prevention and control of the pandemic will protect the normal production of Vietnamese yarn mills.

In conclusion, Vietnamese yarn import in Jan rose year-on-year and month-on-month, and textile and apparel exports moved up sharply. At present, textile and apparel mills enjoyed sufficient orders, and it is expected that Vietnam's textile and apparel industry will continue to maintain a good situation supported by the orders.