In the first eight months of 2017, Vietnam’s exports of textile fibers increased 15 per cent in volume and 24 per cent in value over the same period last year. Fiber and yarn exports to Taiwan surged sharply, up 70 per cent in volume terms and 58 per cent in value terms. In addition, exports to Hong Kong, India, Egypt also reached over 30 per cent growth. Exports to Japan were up 35 per cent in volume and 40 per cent in value terms.
The quality of Vietnam’s cotton fiber is good and meets importers requirements. Vietnam’s yarn industry is well positioned on the world’s fiber map and is able to compete well with major countries such as India, China, Turkey and some Middle East countries.
Besides the satisfactory export results, Vietnamese yarn industry is now actively involved in the development of yarn industry for the domestic textile and dyeing. In addition, Vietnam has also been active in high-end cotton yarn products for high quality of textiles. In addition to domestic production, Vietnam's yarn industry is also exporting large volumes annually.
Currently almost the entire cotton needed for production in Vietnam is imported. In the first eight months of 2017, Vietnam’s imports of cotton were up 25 per cent in volume and 47 per cent in value terms.