Vietnam's footwear and handbag exports to most markets have increased and are forecast to reach about 26-27 billion USD in 2024, an increase of 3 billion USD compared to 2023.
Leather shoe manufacturing.
According to the Vietnam Leather, Footwear and Handbag Association, the leather and footwear industry has taken advantage of the free trade agreements that Vietnam has signed to boost exports.
Thanks to that, Vietnam's footwear and handbag exports to most markets have increased and are forecast to reach about 26-27 billion USD in 2024, an increase of 3 billion USD compared to 2023.
Ms. Phan Thi Thanh Xuan, Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association (Lefaso), said that Vietnam is currently the third largest country in the world (after China and India) in footwear production and second in the world in footwear export.
The footwear industry still focuses on key markets accounting for 97.3% of total export turnover, including: North America accounts for the largest proportion (footwear 41.4%, handbags 47%), followed by the EU (footwear 29.5%, handbags 25.4%). Asia currently accounts for 22.2% of footwear and 24.5% of handbags.
Total leather and footwear exports to the 16 largest markets including the United States, China, Japan, Belgium, the Netherlands, Germany, the United Kingdom, South Korea, Canada, France, Spain, Italy, Australia, Mexico, the UAE and Taiwan (China) accounted for over 88.4% of the total export turnover of the industry.
Ms. Phan Thi Thanh Xuan added that the biggest challenge for the footwear industry at the moment is meeting the new standards set by many major footwear importing countries, which are sustainability in production, requirements for social responsibility...
Typically, the EU market, from the second quarter of 2024, has begun to introduce new requirements such as eco-design with sustainable designs or traceability and transparency of the supply chain.
If we import raw materials from abroad, we will have to be transparent about the entire production process at the production site, Ms. Xuan said.
Changes in import market policies will have a strong impact on businesses in the industry. Many signs show that the footwear industry's exports will recover strongly from the last months of 2023. Currently, a number of large businesses have signed contracts until mid-2025.
To continue taking advantage of opportunities brought about by FTAs, experts say that developing supporting industries and raw materials for the domestic footwear industry is extremely important.
The Vietnam Leather, Footwear and Handbag Association proposed supporting the formation of industrial parks to produce specialized supporting industrial products for the leather and footwear industry, focusing on the production of leather, technical fabrics, mold accessories, soles, etc., convenient for environmental protection and centralized production organization./.
According to VNA
Source: https://baobinhduong.vn/xuat-khau-da-giay-co-the-dat-khoang-27-ty-usd-trong-nam-2024-a338771.html
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