Import turnover of raw materials for textiles, footwear, and plastics reaches tens of billions of dollars

The largest source of raw materials for textiles, footwear, and plastics is imported from China into Vietnam market.

According to statistics from the General Department of Vietnam Customs, the country spent US$ 2.36 billion on importing raw materials for the textile and footwear industry in August. This figure increased by 5.8% month-on-month.

In general, in the first eight months, Vietnam spent US$18.03 billion on importing raw materials for the textile and footwear industry, increasing by 14.6% year-on-year.

The country mainly imported raw materials for the textile and footwear industry in the first eight months from China. The import turnover from this market alone reached US$10.16 billion, up 23.7% over the same period last year, accounting for 53% of the country's import turnover of the commodity group.

Plastic raw materials and products are also a group of goods with a large import turnover of over tens of billions of dollars.

In August 2024, the import turnover of plastic raw materials and products reached US$1.85 billion, up 1.4% compared to the previous month.

By the end of August, the country spent US$13.23 billion on importing plastic raw materials and products, up 18.2% compared to the same period last year.

Notably, China also the Vietnam’s largest import market. In eight months, Vietnam spent US$5.27 billion on importing raw plastic materials and products from China, up 32.4% compared to the same period last year.

The import turnover from South Korea rose 18.7% year-on-year to US$2.59 bilion.

Over the past eight months, Vietnam spent more than US$31 billion on importing raw materials for textiles, footwear, and plastic materials and products.

By the end of August, Vietnam's total import turnover reached US$246.87 billion, up 18.1% over the same period last year.

Source: Báo Hải quan