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Friday, February 23, 2024

Vietnamese fibre exports decline 13.8% between January and September 2023

In the first nine months of 2023, Vietnamese exports of fibres by volume totaled 1.3 million, while value reached US $3.2 billion, an increase of 9.3 percent in volume but a decrease of 13.8 percent in value, both from a year ago period.

Data from the Vietnam Textile and Apparel Association informed that China remains Vietnam’s biggest export market for fibres.

Between January and September, fibre exports to the Chinese market reached 647,862 tons, earning $1.71 billion, up 18.1 percent in volume but down 2.1 percent in value over the same period last year.

Korea which is the second largest destination witnessed exports of 101,880 tons in the period under review and reached a value of $284 million which was a drop of 5.78 percent in volume and 24.2 percent in value.

Fibre exports to the third largest export market, the US touched 75,483 tons and totaled $108 million in value. This resulted in a 13.8 percent decrease in volume and a 29.4 percent dip in value over the same period of 2022.

Experts from the Vietnamese textile industry expressed optimism that the overall market in 2024 will show improved demand, but is likely to be lower than in 2022.

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