Leather product, footwear exports likely to fetch 21.5 billion USD
Vietnam's leather and footwear products were on display at the 21st International Leather and Shoes Exhibition in HCM City. (Photo: baochinhphu.vn)
The growth is attributed to growing demand for leather products and footwear in Vietnam’s major export markets in the remaining months of the year.
Vietnam’s footwear products have been shipped to more than 100 countries and territories worldwide, with export earnings to half of them raking in more than 1 million USD each.
Vietnam is currently the world’s second largest footwear exporter and the footwear sector has greatly contributed to the country’s economic development.
LEFASO’s statistics illustrated that leather products and footwear export revenue stood at more than 10.33 billion USD in the first six months of 2019, including 8.53 billion from footwear and 1.8 billion USD from handbags.
The US, the European Union (EU), China, Japan and the Republic of Korea were Vietnam’s main export markets in the period.
LEFASO also predicted that Vietnam’s leather product and footwear production will grow by 10-11 percent in 2019.
Truong Thanh Hoai, Director of the Ministry of Industry and Trade’s Heavy Industries Department, said huge opportunities have been opened up for Vietnam’s leather and footwear sector by free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).
LEFASO and domestic firms need to handle current bottlenecks in the sector, notably the branding issue, he noted.
Related News
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Dong Nai Customs: understand the business situation to develop effective support solutions
13:27 | 04/04/2023 Customs
State-owned enterprises expand production and export
14:41 | 28/03/2023 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Need to effectively use tools to prevent exchange rate risks in import and export field
10:32 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export