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Vietnam to import 12 mln tons of cotton, a 19 pct yoy this year

YarnsandFibers News Bureau 2016-07-08 17:00:00 – Hanoi

Vietnam, the world's fifth largest garment exporter, will import 1.2 million tonnes of cotton this year, which represents an increase of about 19 percent from the previous year 2015, an industry official said on Wednesday.

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 percent to $31 billion this year.

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