From January to April 2023, Vietnam will become the second largest market for Brazilian cotton exports

From January to April 2023, Vietnam will become the second largest market for Brazilian cotton exports, second only to Bangladesh.

From January to April, Brazil exported cotton worth 117.003 million US dollars, accounting for 20.47% of the total export value of 571.658 million US dollars in the same period. In volume terms, Brazil exported 61.693 million kilograms of cotton to Vietnam. While Brazil does import clothing from Vietnam, its share of total imports is still negligible.

Exports, however, are less than half of what they were during January-April 2022, when Brazil exported cotton worth $268.486 million. According to data from Fibre2Fashion's market insight tool TexPro, shipments from January to April 2021 were US$252.048 million, US$176.878 million from January to April 2020, and US$68.98 million from January to April 2019.

In terms of export data in previous years, the export value in 2022 is 546.795 million US dollars (269.463 million kilograms), 2021 is 570.426 million US dollars (339.613 million kilograms), in 2020 it is 518.792 million US dollars (339.24 million kilograms), and in 2019 it is 355.604 million US dollars (217.165 million kilograms). ).

As a major cotton producer, Brazil exports cotton to its trading partners and imports clothing from countries such as Vietnam. In the first four months of this year, Brazil imported clothing worth US$34.592 million. The import volume will be US$83.021 million in 2022, US$58.886 million in 2021, US$57.614 million in 2020, and US$77.875 million in 2019.

Vietnam, however, accounts for only a small portion of Brazil's total apparel imports. Imports from Vietnam accounted for only 4.39% in the first four months of this year. Vietnam is the third largest market for Brazilian imports. Brazil relies heavily on China for clothing imports, accounting for 57.81% of its total imports, according to TexPro data.