Vietnam's fabric exports to Turkiye slow down after 2022's steep rise

25 Sep '23

1 min read

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Insights

Vietnam's fabric exports to Turkiye have substantially slowed in 2023, with Q1 witnessing a dip to $6.457 million, and early Q2 (April-May) plummeting further to $3.21 million.
This decline follows a 2022 peak where exports more than doubled to $49.167 million.
Turkiye was Vietnam's 8th largest fabric market in 2022, but now it ranks 11th.

Fabric exports from Vietnam to Turkiye have slowed this year following a substantial increase in 2022. Last year, fabric shipments to Turkiye more than doubled, reaching $49.167 million. In comparison, just $9.667 million of exports have been recorded in the first five months of this year.

According to recent data from Fibre2Fashion’s market insight tool TexPro, Vietnam exported fabric valued at $21.969 million in 2021 to Turkiye, which significantly rose to $49.167 million in 2022. This uptick was preceded by shipments worth $17.765 million in 2020 and $14.477 million in 2019.

A quarterly breakdown shows a decrease to $6.457 million in Q1 2023, down from $11.029 million in Q4 2022 and $11.153 million in Q1 2022. The early months of Q2 2023 (April-May) saw trade fall to $3.210 million.

In January-May 2023, Vietnam’s total fabric exports amounted to $446.458 million, with Turkiye accounting for 2.17 per cent of this total, ranking it as Vietnam’s 11th largest fabric market. This marks a slide from 2022 when Turkiye was the eighth largest market, absorbing 3.47 per cent of Vietnam’s fabric exports, which totalled $1,414.947 million in value, as per TexPro.

Fibre2Fashion News Desk (KUL)

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This according to Fibre2Fashion's Market Intelligence Tool - TexPro