Imports of textile, leather, and shoe materials and accessories from China climbed by 11.7 per cent in 2021 compared to the previous year

DNHN - Vietnam imported 53 per cent of textile, garment, leather, and shoe materials from China in the first six months of the year, with a total value of 7.76 billion USD, up 11.7 per cent from the same time in 2021.

The import turnover of raw materials and auxiliary materials for the textile, garment, leather, and shoe industries, including cotton, textile fibres, fabrics of all kinds, raw materials for textile, garment, leather, and shoes, reached 2.4 billion USD in June, down 16.1 per cent (equivalent to 461 million USD) from the previous month, according to data from the General Department of Customs.

In general, imports of raw materials and accessories for the textile, garment, and footwear industries totalled 14.71 billion USD in the first six months of the year, an increase of 8.7 per cent (equal to 1.17 billion USD) over the same time previous year.

The largest category is the fabric of all kinds, which reached 7.95 billion USD, an increase of 9%; raw materials for textiles, leather, and footwear reached 3.52 billion USD, an increase of 5.5 per cent; cotton of all kinds reached 1.83 billion USD, an increase of 15.5 per cent; and textile fibres of all kinds reached 1.41 billion USD, an increase of 6.4 per cent.

With a transaction of 7.76 billion USD, up 11.7 per cent from the same time in 2021, China is the main market supplying raw materials and accessories for the textile and apparel industry to Vietnam, accounting for 53 per cent.

The Taiwan market was followed by Korea with 1.3 billion USD, up 1.9 per cent, and the United States with $ 961 million, up 0.4 per cent.

The overall import turnover of this group of commodities will reach 26.37 billion USD in 2021, a 22.4 per cent rise, equal to a 4.83 billion USD gain over 2020.

Last year's top import markets are China, South Korea, Taiwan, the United States, and ASEAN.

The five primary markets stated above alone totalled US$21.44 billion in 2021, representing 81 per cent of the country's entire textile, leather, and shoe material import turnover.

The overall import-export transaction between Vietnam and China had reached almost 87.3 billion USD by the end of June. In recent years, the neighbouring country has become our main trading partner.

Vietnam's export turnover has reached 26.17 billion USD in the last six months, increasing 6.6 per cent from the same time in 2021. (equivalent to an increase of more than 1.6 billion USD).

Meanwhile, imports from China were 61.12 billion USD, a 14.63 per cent increase (equivalent to 7.8 billion USD).

Imports are higher in volume and growing faster than exports, allowing Vietnam's trade imbalance with China to rise from almost $29 billion in the first six months of 2021 to roughly $35 billion in the first half of this year.

PV