Exports of leather, footwear and handbags hit US$10.32 billion in 2013, according to the Vietnam Leather, Footwear, and Handbag Association. This is an increase of 18 percent since 2012, exceeding the total target by 3 percent.
|Footwear exports hit $8.4 billion in 2013. (Photo: SGGP)|
Suitcase and handbag exports reached $1.92 billion, an increase of 26 percent. Footwear exports hit $8.4 billion, an increase of 15 percent.
These products account for 11 percent of industrial-product exports and 7.7 percent of the country’s total exports.
The US remains the biggest footwear and handbag importer of Vietnam with $3.46 billion in 2013, which is 33.6 percent of the industry’s total exports. The European Union follows with $3.41 billion in imports, which is 33.1 percent of the industry’s exports.
The General System of Preferences (GSP) of the EU, Trans-Pacific Partnership Agreement and several Free Trade Agreements will reduce tariff on footwear products in 2014. Due to this, the Association set export target at $12 billion.