Global Perspective: Vietnam Became The Second Largest Cotton Export Market Of Brazil In The First Four Months

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 $117003 million, accounting for 20.47% of the total export of $57165.8 million in the same period. In terms of quantity, Brazil exports 61.693 million kilograms of cotton to Vietnam. Although Brazil does import clothing from Vietnam, its share in total imports can still be ignored.

However, the export volume is less than half of that of January April 2022, when Brazil exported cotton worth 268.486 million dollars. According to the data of the market insight tool TexPro of Fibre2Fashion, the shipment volume from January to April 2021 is 252048 million dollars, from January to April 2020 is 17687.8 million dollars, and from January to April 2019 is 68.98 million dollars.

In terms of export data in previous years, the export volume in 2022 was $54679.5 million (26946.3 million kg), 2021 was $57042.6 million (3396.13 million kg), 2020 was $51879.2 million (339.24 million kg), and 2019 was $35560.4 million (21716.5 million kg).

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

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