Vietnam: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Vietnam

The Vietnamese cotton sewing thread market rose rapidly to $X in 2021, increasing by 6.2% against the previous year. Overall, consumption, however, enjoyed buoyant growth. Cotton sewing thread consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Cotton Sewing Thread Production in Vietnam

In value terms, cotton sewing thread production soared to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 162%. Cotton sewing thread production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Vietnam

In 2021, cotton sewing thread exports from Vietnam rose notably to X tons, picking up by 11% against 2020 figures. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 588% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, cotton sewing thread exports soared to $X in 2021. In general, exports recorded a significant increase. The growth pace was the most rapid in 2013 when exports increased by 655%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for cotton sewing thread exports from Vietnam, with a 45% share of total exports. Moreover, cotton sewing thread exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by Pakistan (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic totaled +80.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+9.7% per year) and Pakistan (+107.3% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for cotton sewing thread exports from Vietnam, comprising 40% of total exports. The second position in the ranking was held by Myanmar ($X), with a 12% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic stood at +52.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+120.5% per year) and Indonesia (+13.9% per year).

Export Prices by Country

In 2021, the average cotton sewing thread export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 123%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Sewing Thread Imports

Imports into Vietnam

In 2021, approx. X tons of cotton sewing thread were imported into Vietnam; with a decrease of -28.2% compared with the year before. Over the period under review, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2014 when imports increased by 156%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton sewing thread imports contracted rapidly to $X in 2021. Overall, imports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2016 with an increase of 110%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest cotton sewing thread supplier to Vietnam, with a 51% share of total imports. Moreover, cotton sewing thread imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+17.2% per year) and Japan (-4.3% per year).

In value terms, China ($X) constituted the largest supplier of cotton sewing thread to Vietnam, comprising 48% of total imports. The second position in the ranking was held by South Korea ($X), with a 23% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+9.5% per year) and Japan (-7.3% per year).

Import Prices by Country

In 2021, the average cotton sewing thread import price amounted to $X per ton, with a decrease of -13.7% against the previous year. Overall, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2013 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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