Vietnam possesses a "precious gem" that China has

This item is also recording record low export prices, down up to 27%. According to preliminary statistics from the General Department of Customs, Vietnam's export of textile fibers and yarns of all kinds reached more than 174,205 tons with a value of more than 427 million USD, an increase of 12.1% in volume and an increase of 11.3% in terms of value. value compared to July 2023. In the first 8 months of the year, exports of this product reached more than 1.1 million tons with a value of more than 2.8 billion USD, up 6.8% in volume but down 16.6% in value over the same period. 2022. The average export price in the first 8 months of the year reached 2,477 USD/ton, down 28% compared to the same period in 2022. In terms of market, China is the largest export market for Vietnamese textile fibers and fibers. Specifically, in August 2023, exports of this product reached 95,494 tons with a value of more than 252 million USD, an increase of 66% in volume and an increase of 56% in value compared to August 2022. Overall, in the first 8 months of the year, exporting textile fibers to the billion-dollar market earned more than 1.5 billion USD with 570,403 tons, up 15% in volume but down 6.25% in value compared to the first 8 months of the year. 2022.