The import of woven fabrics of flax to Vietnam experienced significant fluctuations over the past decade. From 2013 to 2016, imports saw a rapid increase with the CAGR reaching as high as 28.5%. However, this trend did not sustain in 2017 with a sharp decline of 29.17%. Following years showed moderate recovery and growth, with imports standing at $62.601 million in 2023. Year-on-year analysis for 2022 and 2023 indicates growth rates of 4.59% and 4.3% respectively. The 5-year CAGR from 2019 to 2023 is estimated at 4.95%.
Forecasts for 2024-2028 indicate a sustained but moderate growth trajectory, with a forecast 5-year CAGR of 3.06% and an overall growth of 16.27%. This suggests steady demand for woven fabrics of flax in Vietnam.
Future trends to watch for include shifts in global flax production, changes in trade policies affecting raw materials, and evolving fashion industry demands which may influence import volumes and values.
