Vietnam becomes the second largest market for Brazilian cotton exports

According to foreign news, from January to April 2023, Vietnam became the second largest market for Brazilian cotton exports, second only to Bangladesh.

From January to April, Brazil exported cotton worth 1170.3 million US dollars, accounting for 20.47% of the total export value of 5716.58 million US dollars during the same period. Calculated by quantity, Brazil exports 61.693 million kilograms of cotton to Vietnam. Although Brazil does indeed import clothing from Vietnam, its share in the total import volume can still be ignored.

However, the export volume was less than half of the level from January to April 2022, when Brazil exported cotton worth 26848.6 million US dollars. According to TexPro, a market insight tool from Fibre2Fashion, the shipment volume from January to April 2021 was $252.048 million, from January to April 2020 was $1768.78 million, and from January to April 2019 was $68.98 million.

From previous years' export data, the export volume in 2022 was 54679.5 million US dollars (2694.63 million kilograms), in 2021 it was 5704.26 million US dollars (33961.3 million kilograms), in 2020 it was 51879.2 million US dollars (339.24 million kilograms), and in 2019 it was 35560.4 million US dollars (21716.5 million kilograms).

As a major cotton producing country, Brazil exports cotton to its trading partners and imports clothing from countries such as Vietnam. The value of imported clothing from Brazil in the first four months of this year was 34.592 million US dollars. The import volume in 2022 was 83.021 million US dollars, 58.886 million US dollars in 2021, 57.614 million US dollars in 2020, and 77.875 million US dollars in 2019.

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