Due to a significant decrease in Chinese cotton imports from Australia since 2020, Australia has been continuously striving to diversify its cotton export market in recent years. Currently, Vietnam has become a major export destination for Australian cotton. According to relevant data statistics, as of February 2022.8 to 2023.7, Australia has exported a total of 882000 tons of cotton, an increase of 80.2% year-on-year (489000 tons). From the perspective of export destinations this year, Vietnam (372000 tons) accounted for the first place, accounting for approximately 42.1%.
According to local Vietnamese media, Vietnam’s accession to multiple regional free trade agreements, convenient geographical location, and huge demand from clothing manufacturers have laid the foundation for its large-scale import of Australian cotton. It is reported that many yarn factories have found that using Australian cotton spinning results in higher production efficiency. With the stable and smooth industrial supply chain, Vietnam’s large-scale procurement of Australian cotton has greatly benefited both countries.
Post time: Apr-17-2023