According to Vietnam’s “Investment News” report on December 8, the latest statistics from the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam show that after nearly 2 years of dismal operations, Vietnam’s yarn industry will Thanks to price recovery, exports in the first 10 months increased by US$1.55 billion year-on-year.
In the first 10 months of this year, the yarn industry exported 1.6 million tons of yarn, with an export value of US$4.497 billion. The volume and value increased by 15.1% and 52.7% respectively year-on-year. Although the export of yarn reached 1.38 million tons in 2020, the export value was only US$2.945 billion.
From a global market perspective, due to the depletion of yarn inventories in textile and apparel producing countries such as China and the US embargo on products originating from Xinjiang cotton, yarn The supply chain has had a great impact, resulting in a surge in demand for yarn.
Since the beginning of the year, the price of cotton yarn has increased by 18-20%, followed by polyviscose fiber, which has increased by 16-17%, and polyester fiber and blended fiber, which have also increased by 18-20%. 10%. Thanks to the increase in yarn prices and the previous advantage of low-priced cotton, many yarn companies have reported significant increases in profits.
Affected by the new crown epidemic, textile and apparel exports did not reach the target of US$39 billion in 2020, only US$35.5 billion. Among them, clothing exports fell by 9.2% year-on-year, and yarn exports fell by 10.5%, only 3.737 billion US dollars.
However, despite the impact of poor circulation caused by epidemic prevention in recent months, yarn exports have remained at a level of more than 400 million US dollars per month, including the peak of the epidemic. In complex September, exports were still US$464 million, and in October they were also US$400.5 million. It is almost the same as the US$478 million and US$481 million in July and August.
With the recovery of production and supply chain recovery, epidemic prevention and control measures have been relaxed, cargo movement has become faster, and orders continue to increase, Vietnam’s domestic yarn industry is gradually Close to the export target of US$5 billion. </p
