Vietnam Cotton Imports Decline By 2% In H1, 2019

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Vietnam Cotton Imports Decline By 2% In H1, 2019

Vietnam imported 143.5kt of cotton in June, 2019, down 1.9% year on year and 1.1% month on month. In the first half year of 2019, cotton imports totaled 809.1kt, a decline of 2% year on year. Based on current growth rate, the imports may total 1.52 million tons in 2019, down 31kt from 2018. Cotton imports decrease Vietnam's textile industry maintains the fast development with high growth rate, but the growth rate is slower compared to the corresponding period of last year, but higher than that in 2017. In June, textiles and garments export value reached US$ 2.88 billion, up 4.9% year on year and 5.4% month on month. In the first half year of 2019, exports totaled US$ 14.897 billion, up 9.1% year on year. Based on current growth rate, the export value could reach US$ 33.2 billion in 2019, an increase of US$ 2.76 billion from 2018. Vietnam imported 143.5kt of cotton in June, 2019, down 1.9% year on year and 1.1% month on month. In the first half year of 2019, cotton imports totaled 809.1kt, a decline of 2% year on year. Based on current growth rate, the imports may total 1.52 million tons in 2019, down 31kt from 2018 Monthly imports of US cotton reach a new high In terms of import structure, the major import origins remained the US cotton in June, and others were still the Brazilian, Australian, India and Cote d'Ivoire cotton. US has trade dispute with Vietnam, but the situation has not escalated. Currently, the arrivals of US cotton have been in the late period of intensive arriving period. Monthly imports of US cotton reached 100kt, still to be a new high compared to the corresponding period of previous years. Indian cotton imports moved down from January. Imports of Brazilian and Australian cotton moved up this month. In June, US cotton imports were 552.2kt, up 19.59% year on year, Indian cotton 80.6kt, down 51.36%, Brazilian cotton 75.2kt, down 14.88% and Australian cotton 20kt, down 9.47%. The arrivals of Australian cotton were delayed somewhat this year, as it was usually the intensive arriving period in June and July.