In May 2022, Vietnam’s cotton imports declined by 23.8 per cent Y-o-Y but increased 24.1 per cent M-o-M to 120,400 tons from the previous month. As per a CCF Group report, Vietnam’s yarn imports increased 9.1 per cent Y-o-Y during the month and 22.4 per cent M-o-M while exports declined 18.3 per cent Y-o-Y and 6.7 per cent M-o-M, respectively. Vietnam’s fabrics imports increased by 5.9 per cent Y-o-Y and 9.9 per cent M-o-M.
Vietnam’s textiles and apparel exports surged 23.2 per cent Y-o-Y and 0.6 per cent M-o-M. From April, Vietnam’s textile and garment exports declined 3.6 percentage points Y-o-Y while they declined by 2.7 percentage points on a M-o-M basis
The CCF Group report concludes, Vietnam’s textile and apparel exports growth remained positive in May. However, Year-on-Year and Month-on-Month declined compared to April. Profits of Vietnamese cotton yarn mills also reduced on account of high cotton prices and burden from weak downstream consumption.