Vietnam Time

7/20/2017 2:25:48 PM

Vietnam ships footwear to nearly 100 countries

Vietnam has shipped footwear products to nearly 100 countries worldwide, with 72 of them buying at least USD 1 million of the products, reported the Vietnam Leather and Footwear Association (LEFASO).

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Workers in a shoes factory in Vietnam (source: the Investment News)

The European Union (EU) ranked second with USD 1.76 billion, up 9.7 percent annually and making up 31.15 percent of the total. It was followed by China (USD 418.4 million), Japan (USD 284.4 million), the Republic of Korea (RoK) (USD 158.3 million). Those five markets accounted for 83.3 percent of Vietnam’s earnings from footwear export. 

Nearly 80 percent of Vietnam’s leather product and footwear export value comes from factories located in the South, the Southeast and the Southwest regions. Ho Chi Minh City and the Southern provinces of Binh Duong and Dong Nai are currently the largest footwear and handbag producers. 

In the North, most leather and footwear factories are concentrated in Thanh Hoa, Hai Phong, Hai Duong, Hanoi, Ninh Binh and Thai Binh. In the Central region, only Da Nang city and Quang Nam province have some large-scale production facilities. 

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US, the second largest importer of Vietnam's footware (source: iStock)

In the first half of the year, the leather and footwear sector earned USD 8.7 billion from exports, marking an 11 percent increase, including USD 7 billion from footwear and USD 1.65 billion from handbags and suitcases, up 12 percent and 4 percent, respectively. 

It is forecast that the total earning this year will hit USD 17.8 billion, up 10 percent annually. 

The LEFASO suggested firms to join manufacturing chains at home, in the region and the world while adopting advanced technologies and exploiting advantages offered by free trade agreements in which Vietnam is a member./.

  ( VNF/VNA )
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