According to the results of three quarters of 2017, the volume of exports of footwear and leather products in Vietnam amounted to about $ 10,6 billion, which is 12,7% more than in the same period in 2016, Le Courrier du Vietnam writes.
The industry is booming. Diêp Thành Kiêt, vice president of the association of shoes, bags and leather goods (Lefaso), believes that the industry has grown in recent years due to the ability of Vietnamese enterprises to create products that meet the needs of foreign markets.
Vietnam’s leather and footwear exports are expected to reach $ 18 billion this year, with annual growth of 10%.
An optimistic forecast is associated with a revival of world trade and the decision of China to reduce privileges for investors in the textile, shoe and leather industries, in order to support the new technology sector, which can also lead to the shift of orders from China to Vietnam.
Vietnam exports shoes and leather goods to about 100 countries. In 2016, the export turnover of footwear and leather products amounted to $ 16,2 billion, annual growth amounted to 8,8%. About $ 13 billion came from shoes and $ 3,2 billion from bags and other leather products.
The largest importer of Vietnamese footwear and leather goods is the United States, with purchases of more than $ 4 billion, representing 35,1% of Vietnam's total exports. In second place are EU countries, with purchases of $ 3,72 billion, and a share of 31,7% of Vietnamese footwear and leather products. Sales of Vietnamese shoes and leather goods are growing in East Asian markets + 20%, in Japan + 11,8%, in China +94,6, in Taiwan and the Republic of Korea + 9,3%.