Footwear export turnover on the rise

The Ministry of Industry and Trade has reported that total export turnover of footwear types was estimated to hit US$8.8 billion during the first nine months this year, a year on year increase of 18.4 percent.

Shoe production at Binh Tan Consumer Goods Manufacturing Company (Bita's) (Photo: SGGP)

Of these, businesses exported 241.9 million pairs of leather footwear, up 24.1 percent over the same period last year.

According to the Vietnam Leather, Footwear and Handbag Association (Lefaso), many businesses in the industry have got stable export orders thanks to free trade agreements. Some have obtained large orders worth millions of U.S. dollar each to produce until the first quarter next year.

Therefore, the target of U$14-15 billion footwear export turnover this year is likely accessible. Of these, leather footwear will be 280.2 million pairs.

It is expected to increase to US$16-17 billion next year with 314 million pairs of leather types. Localization rate is targeted at 60-65 percent.

By Lac Phong – Translated by Hai Mien

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