Vietnam Cotton Import Research Report 2024-2033

Vietnam Cotton Import Research Report 2024-2033

Cotton is not only the most important fiber crop but also a significant oil crop and a vital raw material in the textile and fine chemical industries. It can be processed into fabrics of various specifications and is widely applied in industries such as pharmaceuticals, cosmetics, paper processing, and many others. In modern life, cotton plays an essential role across various sectors, including textiles, agriculture, industry, and medicine, making it an indispensable resource.

Currently, the world's leading cotton-producing countries include China, the United States, India, Brazil, and Australia. According to CRI, India, the United States, and China are the three most influential countries in the global cotton market. In terms of production, China is the world's largest cotton producer, with a significant annual output, followed by India and the United States. Globally, Asia and Western markets represent the largest demand for cotton, and in recent years, demand has also been increasing in emerging markets due to economic growth and rising income levels.

Vietnam, as an emerging economy in Southeast Asia and the world's second-largest textile exporter, has experienced rapid economic growth in recent years. The textile industry has become a key pillar of the Vietnamese economy, driving an increase in cotton demand. However, Vietnam's cotton production is extremely low, meeting only about 1% of its domestic demand, which forces the country to heavily rely on imports to support its garment and textile industry. Vietnam is now the third-largest cotton-importing country in the world, with annual cotton import values reaching several billion dollars.

Based on the data from CRI, Vietnam's cotton imports reached USD 2.744 billion in 2023, and with rising market demand in 2024, the import value from January to May 2024 approached USD 1.309 billion.

According to CRI, Vietnam's main sources of cotton imports include the United States, Australia, Brazil, China, and Singapore. Among them, the United States is the largest supplier of cotton to Vietnam, with a significant proportion of Vietnam's cotton imports coming from the U.S. annually. Between 2021 and 2024, Vietnam's primary cotton suppliers were the U.S., Australia, and Brazil, with key exporters to Vietnam including SUNRAY MACAO COMMERCIAL LIMITED, BROS MACAO COMMERCIAL OFFSHORE LIMITED, AND LOUIS DREYFUS COMPANY SUISSE S.A.

CRI also indicates that between 2021 and 2024, Vietnam’s major cotton importers were companies in the textile and garment sectors, including BROTEX (VIETNAM) CO. LTD., TEXHONG GALAXY, AND TEXHONG YINLONG TECHNOLOGY.

Overall, due to Vietnam's limited domestic cotton production capacity, the country relies heavily on imported cotton. As the global economy recovers and Vietnam's textile industry continues to grow, demand for high-quality cotton and stable supply is expected to rise. CRI forecasts that with the upgrading of Vietnam's textile industry and the expansion of international markets, the demand for cotton in Vietnam will continue to grow, along with increasing cotton import volumes.

Topics covered:

• The Import and Export of Cotton in Vietnam (2021-2024)
• Total Import Volume and Percentage Change of Cotton in Vietnam (2021-2024)
• Total Import Value and Percentage Change of Cotton in Vietnam (2021-2024)
• Total Import Volume and Percentage Change of Cotton in Vietnam (2024)
• Total Import Value and Percentage Change of Cotton in Vietnam (2024)
• Average Import Price of Cotton in Vietnam (2021-2024)
• Top 10 Sources of Cotton Imports in Vietnam and Their Supply Volume
• Top 10 Suppliers in the Import Market of Cotton in Vietnam and Their Supply Volume
• Top 10 Importers of Cotton in Vietnam and Their Import Volume
• How to Find Distributors and End Users of Cotton in Vietnam
• How Foreign Enterprises Enter the Cotton Market of Vietnam
• Forecast for the Import of Cotton in Vietnam (2024-2033)