Vietnam’s fabric imports rise in first nine months of 2024, led by China

In the first nine months of 2024, Vietnam imported nearly $10.95 billion worth of fabric, marking a 14.3 per cent increase compared to the same period in 2023. China remained the top supplier, with fabric imports from the country reaching $7.4 billion, up 20.4 per cent year-on-year.

September alone saw Vietnam import $1.25 billion worth of fabric, driven by growing demand for both export and domestic garment production. Taiwan (China) was the second-largest supplier, with a turnover of $1.14 billion in the first nine months, up 11.6 per cent, while South Korea contributed over $1.11 billion, a 10.2 per cent increase.

Despite its significant textile and garment industry, Vietnam’s domestic fabric production meets only 50 per cent of demand, making imports crucial. In 2023, fabric imports dropped to $13 billion due to reduced global demand, but 2024 has seen a resurgence.