Textiles Import of Vietnam: The Trade Analysis of 2024

Vietnam, based in Southeast Asia, sharing borders with Cambodia, China, and the South China Sea in the north, west, and east directions, has been importing a wide array of textiles from different leading suppliers worldwide, driven by domestic demand. Vietnam Export Data says the rise in production needs and the surge in export demand have hit a remarkable growth rate of 11% in 2023, with a 14.8% increase over the previous year. The rise in imports is representative of the industry’s need for more imports, as the domestic standards need to maintain global stability with the regional demand.

The minimal production rate of textiles in Vietnam and the pricing strategies set up by the trade authorities to maintain compatibility with the global trade have resulted in an import rate value of textiles worth 18 billion US dollars in 2024. The country, with its efficient import of textiles, has recorded itself as the third-largest cotton importer in the global trade market, driven by the heavy reliance on major supplies from efficient states like the United States, India, Brazil, and Australia. Subscribe to Import Globals, an import export trade provider, for staying up-to-date with the latest information on the textiles import of Vietnam via the Vietnam Trade Data.

POLICY REFORMS SUPPORTING THE IMPORT OF TEXTILES IN VIETNAM IN 2024

The establishment of a raw material trading center by the Ministry of Industry and Trade is taken as a step to streamline the supply chain by including all the domestic and foreign raw material supplies at one place, which will improve the transparency while enhancing the traceability, for reducing the time and cost for sourcing the imported materials. The FTA ecosystem and rules of origin support were initiated by the government authorities to strengthen the FTA utilization. This initiative has enabled the use of fabrics from FTA partner countries, facilitating the trade relationships between the producers and suppliers.

It has benefited the revenue rate from reduced tariffs with the enhancement of export competitiveness. The special preferential tariffs under VIFTA have supported the reduction of import costs while encouraging importers to diversify their supply away from traditional sources. The promotion of sustainable textile development through an MoU with IDH has encouraged the imports of eco-friendly materials and technologies, while positioning Vietnam to transition toward greener textiles.

THE LEADING VARIANTS OF TEXTILES IMPORTED IN VIETNAM IN 2024

Vietnam, in line with its growing consumer-based priorities, has witnessed diversification in its foreign textile imports. The hike in the revenue rate is driven mostly by the growing disposable incomes. As per the Vietnam Import Data, the top 10 leading variants of textiles imported in the nation in 2024 are,

  • Fabric — The annual valuation of Fabric imported in Vietnam in 2024–2.12 billion US dollars
  • Yarn — The annual valuation of Yarn imported in Vietnam in 2024–2.01 billion US dollars
  • Cotton — The annual valuation of Cotton imported in Vietnam in 2024–1.98 billion US dollars
  • Synthetic Fibers — The annual valuation of Synthetic Fibers imported in Vietnam in 2024–1.65 billion US dollars
  • Textile Chemicals & Auxiliaries– The annual valuation of Textile Chemicals & Auxiliaries imported in Vietnam in 2024–1.21 billion US dollars
  • Knitted or Crocheted Fabrics– The annual valuation of Knitted or Crocheted Fabrics imported in Vietnam in 2024–1 billion US dollars
  • Man‑made Fibers & Interlinings– The annual valuation of Man‑made Fibers & Interlinings imported in Vietnam in 2024–786 million US dollars
  • Denim Yarn & Textile Chemicals– The annual valuation of Denim Yarn & Textile Chemicals imported in Vietnam in 2024–654 million US dollars
  • Technical Fabrics & Synthetic Knits– The annual valuation of Technical Fabrics & Synthetic Knits imported in Vietnam in 2024–576 million US dollars
  • Dye‑Finished Polyester/Knit Blends– The annual valuation of Dye‑Finished Polyester/Knit Blends imported in Vietnam in 2024–432 million US dollars

TOP 10 IMPORT TRADE PARTNERS OF VIETNAM IN 2024

Vietnam, with its preferential trade agreements and strategic pricing strategies, has positioned itself as a global trade hub for textile imports. According to the Vietnam Customs Data, the top 10 import trade partners of the nation for textiles imported in 2024 are,

  • China — The total valuation of textiles imported in Vietnam from China in 2024–3.21 billion US dollars

Top 5 variants of textiles imported

· Cotton

· Linen

· Hemp

· Ramie

· Jute

  • South Korea — The total valuation of textiles imported in Vietnam from South Korea in 2024–2.87 billion US dollars

Top 5 variants of textiles imported

· Coir

· Sisal

· Wool

· Cashmere

· Alpaca

  • Japan– The total valuation of textiles imported in Vietnam from Japan in 2024–2.14 billion US dollars

Top 5 variants of textiles imported

· Mohair

· Angora

· Camel Hair

· Vicuña

· Yak Wool

  • Taiwan — The total valuation of textiles imported in Vietnam from Taiwan in 2024–1.87 billion US dollars

Top 5 variants of textiles imported

· Silk

· Tussah Silk

· Eri Silk

· Muga Silk

· Banana Fiber

  • United States — The total valuation of textiles imported in Vietnam from the United States in 2024–1.56 billion US dollars

Top 5 variants of textiles imported

· Polyester

· Nylon (Polyamide)

· Acrylic

· Spandex (Elastane)

· Lycra

  • Thailand — The total valuation of textiles imported in Vietnam from Thailand in 2024–1.21 billion US dollars

Top 5 variants of textiles imported

· Aramid (e.g., Kevlar)

· Modacrylic

· Polypropylene

· Polyethylene

· Rayon (Viscose)

  • Malaysia — The total valuation of textiles imported in Vietnam from Malaysia in 2024–1 billion US dollars

Top 5 variants of textiles imported

· Modal

· Lyocell (e.g., Tencel)

· Cupro

· Acetate

· Triacetate

  • Indonesia — The total valuation of textiles imported in Vietnam from Indonesia in 2024–876 million US dollars

Top 5 variants of textiles imported

· Twill

· Plain Weave

· Satin Weave

· Sateen

· Poplin

  • India — The total valuation of textiles imported in Vietnam from India in 2024–742 million US dollars

Top 5 variants of textiles imported

· Broadcloth

· Percale

· Chambray

· Oxford

· Gabardine

  • Australia — The total valuation of textiles imported in Vietnam from Australia in 2024–621 million US dollars

Top 5 variants of textiles imported

· Taffeta

· Chiffon

· Georgette

· Crepe

  • Organza

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