Leather, shoe exports top US$9.6 billion
Vietnam’s leather and footwear products went to 100 countries, with the US, EU, Japan, China, and the Republic of Korea being the main buyers, it said.
Foreign companies accounted for more than 81% of the figure.
The Vietnam Leather, Footwear and Handbag Association (Lefaso) said local companies lack the resources to expand production or market, while foreign-invested firms have for many years invested to expand to capitalise on free trade agreements that Vietnam had signed or was set to sign, it said.
So the latter’s exports keep increasing, it added.
Though intra-ASEAN exports enjoy zero tariffs, leather and footwear exports to member countries remain modest compared to the sector’s potential.
The exports were worth less than US$400 million last year, going mainly to Singapore, Malaysia, Thailand, and the Philippines.
According to trade experts, footwear companies do not treat ASEAN as a key export market.
But according to Lefaso, ASEAN is a hard market to crack since many other members are also strong players, especially Thailand and Indonesia.
Besides, many put up technical barriers to protect their domestic production, the ministry said.
Experts said that this year the world economy is expected to be better than in 2016, and China would continue to reduce investment incentives for textile and footwear to focus on high-tech sectors, meaning orders for shoes and bags would continue to move from China to Vietnam.
Nguyen Duc Thuan, Lefaso Chairman, said production and export of leather and footwear have been good this year.
The association forecasts exports to be worth US$17.8-18 billion this year, an increase of 10% over last year, he said.
Related News
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Exploiting potential markets to increase coffee export space
11:40 | 01/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
Import and export turnover in major markets plunges
13:45 | 31/03/2023 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
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
More News
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 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