Trang tiếng Việt
Footwear export revenue hit nearly USD 3 billion PDF Print
Monday, 09 May 2016 13:59

VIETRADE - Footwear, one of Vietnam's key export items and listed among those with high export value of more than USD 1 billion during the first three months of 2016, is standing a chance to boost growth in export for the time to come.


Statistics by the General Department of Customs (GDC) showed that Vietnam's footwear export revenue in March, 2016 was USD 918.23 million, up 43.1% against the previous month, adding up to the total of USD 2.78 billion export value in the first three months of 2016, up 9.6%  against the reviewed period of 2015.


The US is the largest importer of Vietnam's footwear in first three months, recorded at USD 945.55 million, up 11.6% against the same period of 2015. In March alone, footwear export revenue from this market gained USD 344.23 million, up 63.7% compared with the previous month.


Japan ranked second with export revenue of USD 57.05 million in March, 2016, up 8.2% against statistics of the previous month. In total, export value for the first three months of 2016 from Japan was USD 193.21 million, up 20.6% against the reviewed period of last year.


In the third place is China, reported with USD 190.74 million of export value in the first three months of 2016, up15.3% against the reviewed period of last year. Export value from this market during March , 2016 was USD 59.22 million, up 20.2% compared with the previous month.


Vietnam's footwear export revenue experienced significant growth in various export markets such as Belgium USD 172.27 million, up 24.8%; Germany USD 168.73 million, up 13.8%; France USD 113.07 million, up 48.7%; Italy USD 72.53 million, up 14.3%; Canada USD 51.13 million, up 32.9%; UAE USD 23.32 million, up 19.7%, Chile USD 20.56 million, up 22.3%; Russia 16.57 million, up 42.5%; Argentina USD 15.39 million, up 40.7%; Thai land USD 9.43 million, up 34.5%; Indonesia USD 6.05 million, up 24%; Norway USD 4.69 million, up 43.8% and Ukraine USD 1.04 million, up 50.9%, against the reviewed period of last year.


Footwear exports to some other markets enjoyed steady growth or slight increase such as: Holland USD 114.04 million, up 5.3%; Korea USD 94.02 million, up 0.1%; Australia USD 40.71 million, up 7.7%; Singapore USD 11.7 million, up 6.3%; Malaysia USD 10.86 million, up 4.3%; Philippines USD 11.42 million, up 13.1%, India USD 7.74 million, up 6%; Israel USD 7.91 million, up 8.9%; New Zealand USD 5.31 million, up 8.2%, against the reviewed period of last year.


Markets experienced declining growth for Vietnam's footwear exports in the first three months of 2016 are : the UK USD 140.89 million, down 1.2%; Mexico USD 48.4 million, down 2.8%; Spain USD 47.92 million, down34.4%; Brazil USD 30.87 million, down 39.9%; Czech USD 8.88 million, down 21.6%, Panama USD 21.27 million, down 21.6%, against the reviewed period of last year. Vietnam's deeper integration into the global economy has been marked by various free trade agreements (FTAs), including the Transpacific Partnership (TPP) and the final round of the Vietnam -EU FTA (EVFTA).  These developments set forth for opportunities to increase the market share of Vietnam's footwear exports at the member nations, facilitated by the tax incentives. Commitment to widely open member nations' markets under TPP and EVFTA stands as the driving engine for the international market expansion of Vietnam's footwear.


However, according to experts, challenges posed by the integration process are the dependence on imported raw materials. Key export items such as leather and leatherette have low local content, results in the low export value.


Experts also shared that in order to take advantage of the FTAs' benefits, the footwear industry needs to speed up the preparation for local input materials so as to reap the most out of the tax break into the US, EU and some other markets.

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