Vietnam to increase leather and footwear exports by 2024% in 11
According to the Vietnam Leather, Footwear and Bag Association Lefaso, Vietnam's footwear and leather exports reached $27,04 billion in 2024, an increase of 11,45% compared to the previous year. According to the association's forecast, exports may grow by 2025% in 10, Worldfootwear.com reports.
North America accounted for 41,4% of Vietnam's footwear exports and 47% of its bag exports, followed by the European Union with 29,5% and 25,4% respectively. Vietnam's top 16 importers, including the United States, China, Japan, Belgium, the Netherlands, the United Kingdom, the Republic of Korea, Canada, France, Spain, Italy and Australia, accounted for about 88,4% of the total exports.
The association notes that the industry is gradually adopting higher quality standards to further penetrate markets such as Japan, Europe, Canada and the United States.
Lefaso Chairman Nguyen Duc Tuan noted that Vietnam's footwear and leather industry faces a number of challenges, including falling prices, rising production costs, and the need to meet high quality and sustainability requirements. However, he also stressed that the country has numerous advantages for manufacturing development - an abundant workforce, diverse raw material supplies, investment incentives, and, above all, Vietnam's integration into the global economy through various free trade agreements.
Overall, the industry aims to achieve total export revenues of between $38 billion and $40 billion by 2030.
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According to the Vietnam Leather, Footwear and Bags Association Lefaso, Vietnam's footwear and leather exports reached $27,04 billion in 2024, an increase of 11,45% compared to the previous…
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