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Vietnam reaps almost $60 billion from footwear export in 2011-2016 period PDF Print
Monday, 27 February 2017 10:00

VIETRADE Vietnam’s export turnover of footwear products reached US$57.5 billion in total during the 2011-2016 period, the latest statistics from the General Department of Customs revealed.


Specifically, export value reached US$6.5 billion in 2011, increased to US$13 billion in 2016.

During the reviewed period, the US has been the leading importer of Vietnamese footwear products and accounting for 30% of the industry’s total export value. Meanwhile, footwear export value made up 11% of Vietnam’s total export value to the US.

In 2016 alone, the US imported US$4.48 billion worth of Vietnamese footwear, up 10% against the previous year.

China ranked second with export value of US$904.9 million, followed by Belgium (US$825.4 million); Germany (US$764.7 million) and Japan (US$674.9 million).


Looking into exports by continent, in 2016, Vietnam’s footwear products were mainly imported to countries in North America (36.4%) and the EU (31.9%).


According to the Vietnam Leather, Footwear and Handbag Association, Vietnam’s footwear industry has a long history of development with export advantages, making significant contribution to the national economy.


Vietnam is currently one of the top four footwear exporters in the world, following China, India and Brazil, the association said, adding that Vietnamese footwear products have been exported to 50 countries and territories.


In order to accelerate exports, the association emphasized the importance of boosting technological innovation, investing in new equipment and modernizing existing equipment.


Top priority should also be given to expanding production scale of domestic enterprises to increase productivity and improving the quality of products.


 The EU-Vietnam free trade agreement, which tentatively takes effect in 2018 together with the efforts of Vietnamese footwear makers in expanding their export outlets would lead to an export breakthrough in footwear to EU market, experts said.

Besides opportunities, experts warned that the firms would face fiercer competition from regional rivals in the coming time as the tax levied on footwear and leather handbags and items circulated within the ASEAN bloc had been reduced to 0%.

Local enterprises also confronted obstacles due to the lack of capital and increasing input costs, which significantly affected the footwear sector’s export./.

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