Home Business Vietnam’s cotton import surges in January

Vietnam’s cotton import surges in January

Vietnam imported 140,000 tons of cotton worth 244 million U.S. dollars in January, up 49.7 percent in volume and 51.1 percent in value against January 2017, according to its Ministry of Industry and Trade on Friday.Vietnam, whose yarn industry heavily depends on imported cotton, has imported increasingly bigger volumes of the material in recent years to feed its growing textile and garment production and export, local economists said, noting that its biggest cotton import market is the United States, tailed by India, Australia, Brazil and Cote d’Ivoire, reports Xinhua.Vietnam’s cotton import surged from 150,000 tons in 2005 to nearly 1.3 million tons in 2017.Last year, the country spent over 2.3 billion U.S. dollars importing cotton, posting a year-on-year rise of 41.2 percent.


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