As per the latest report published by China Customs, Vietnam has emerged as the leading cotton yarn supplier to China. The report adds that imports from Vietnam to the country surged annually in each month of the first quarter of 2016.
In the month of March 2016, Vietnam noted a 26 per cent rise in cotton yarn exports to China. The country shipped 122,686 tonnes of cotton yarn to China from January to March, surging 14.7 per cent year-on-year, with 26 per cent shares of the latter’s import market. The exports of cotton yarn from Vietnam to China are further expected to increase in the future as the Chinese companies in Vietnam are expanding their manufacturing capacities progressively.
Also Read – Vietnam textile industry progressing in leaps & bounds
Overall cotton yarn imports in China surged 64.33 per cent to 190,543 tonnes in the month of March. However, the report suggests that imports were down 23.55 per cent on an annual basis. Collective imports during the first quarter of the current year dropped by 20.73 per cent to 467,993 tonnes.
In the first quarter of 2016, cotton yarns exports from India and Pakistan to China plunged 36 per cent and 41 per cent, respectively, to 118,361 tonnes and 97,782 tonnes.
