Vietnam: Cotton and Products Annual

Post estimates that Vietnam cotton imports in marketing year 2022/23 (MY22/23) will decrease at least 5 percent year on year to nearly 6.3 million bales due to ongoing global low demand for textile and apparel products. U.S. cotton exports to Vietnam significantly dropped in the first half of MY22/23 and are forecast to plunge to their lowest levels since 2015 due to available and competitively-priced supplies from Australia and Brazil. Australia cotton exports to Vietnam gained a larger market share in the first half of MY22/23 and continue to grow due to availability, good quality, competitive prices, and proximity to Vietnam. Post forecasts Vietnam cotton imports for MY23/24 will rebound at 5 percent year on year to 6.6 million bales or over 1.4 million metric tons (MMT) based on the expectation that demand for cotton yarn will recover by final months of 2023.