Vietnam's cotton imports are forecasted to grow steadily from 6.83 million units in 2024 to 7.32 million units by 2028. Based on historical data, this is a continuation of an upward trend, with the import volume in 2023 standing at 6.72 million units. The year-on-year variation for 2024 compared to 2023 is approximately 1.64%, and the projections for the subsequent years suggest a gradual increase in import volumes: 6.95 million units in 2025 (+1.76%), 7.08 million units in 2026 (+1.87%), 7.20 million units in 2027 (+1.69%), and 7.32 million units in 2028 (+1.67%). This results in a Compound Annual Growth Rate (CAGR) of approximately 1.74% over the five-year period from 2024 to 2028.
The key factors influencing this trend are likely to include the growth of the textile and garment industry in Vietnam, which demands a substantial amount of cotton. Other critical considerations will be changes in global cotton prices, domestic agricultural policies, and trade agreements impacting import duties and regulations. Future trends to watch for include advancements in textile technology, shifts in global supply chain dynamics, and potential environmental regulations affecting agricultural practices.