Footwear exports maintain double-digit growth

According to data from the General Statistics Office, in the first 9 months of 2024, footwear ranked 5th out of 7 products with export turnover of over 10 billion USD.

Like textiles, orders from domestic footwear businesses are getting better towards the end of the year as they prepare to enter the peak production season for festivals.

Ms. Phan Thi Thanh Xuan - Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association said that orders are currently recovering, but domestic leather and footwear enterprises are facing major obstacles due to labor shortages. This is a big challenge, because in labor-intensive industries such as leather, footwear and textiles, human resources are considered the biggest asset. Ms. Xuan also said that the double-digit growth achieved is quite positive. In 2024, it is likely that the leather and footwear industry will reach the finish line with 27 billion USD.

The Ministry of Industry and Trade "bridges" the path to bring Vietnamese footwear into the US market. Photo: Can Dung

Statistics also show that the export turnover of the footwear industry to markets is quite stable. In the first 8 months of 2024, the industry exported to the US market 5.58 billion USD, up 17.1%; EU (27 countries) 3.63 billion USD, up 14.3%; China 1.32 billion USD, up 5.5% over the same period last year.

At an event related to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) recently organized by the Ministry of Industry and Trade, Ms. Xuan said that the association has submitted to the Ministry of Industry and Trade a proposal to build a trading center for raw materials for the Vietnamese fashion industry.

Ms. Xuan explained that raw materials are a very important factor for the fashion industry, accounting for a very large proportion of up to 65% of the product cost. If the Vietnamese fashion industry can proactively source raw materials that meet the standards of the export market, it will quickly meet orders, boost the growth rate of the export fashion industry, and expand its scale to reach 100 billion USD by 2030.

On the other hand, proactive supply helps footwear enterprises to be transparent about the origin of raw materials, both meeting the rules of origin in free trade agreements and implementing green and sustainable standards of importers.

To realize the idea of ​​building a trading center for raw materials for the fashion industry, the representative of the Vietnam Leather, Footwear and Handbag Association recommended that there needs to be participation from many parties, and especially the Government's support policy in facilitating procedures and policies related to logistics, supply of imported raw materials, etc.

It is expected that the Trading Center for Raw Materials for the Fashion Industry will be built from socialized capital, attracting the participation of suppliers of raw materials and accessories for textile and footwear production domestically and internationally; continuously updating trends and technologies to support and promote domestic raw material production activities...

Source: https://congthuong.vn/xuat-khau-giay-dep-duy-tri-tang-truong-2-con-so-351036.html