Encouraging signs from handicraft export

Vietnamese handicraft exports included hand bags, wallets, hats, umbrellas, toys, sports equipments, pottery, and bamboo products. 

The commodities played an important role in job generation as it made full use of abundant and cheap labor force. In addition, the Law on Enterprises and the start-up movement contributed to boosting overseas shipment of Vietnamese handicraft products. 

In addition, a large number of handicraft products were exported in place as foreign investors spent an average of US$ 15 in purchasing souvenirs which accounted for 15% of their total spending in Viet Nam. 

Production of handicraft products chiefly exploited local raw materials and served to transform labor and economic structure.

Thanks to higher demands for export and domestic consumption, handicraft production industry expanded 12.9% in the first seven months of 2019, higher than 10.7% of processing and manufacturing industry and 9.4% of industrial production index. 

Export markets of made-in-Viet Nam handicraft products included the U.S. (holding a third of the market share); the EU (a fifth), and Japan (a tenth). China, the Republic of Korea, and others held the rest. 

Specifically, overseas shipment of hand bags, wallets, hats as well as umbrellas reached US$ 3.39 billion in 2018 and is expected to touch US$ 3.75 billion in 2019. 

Toys and sports equipment brought back US$ 1.39 billion of export turnover in 2018 and is expected to earn US$ 1.48 billion in 2019. 

Pottery export turnover valued US$ 509 million in 2018 and is projected to reach US$ 532 million in 2019. 

Export turnover of bamboo products was US$ 348 million in 2018 and is projected to reach US$ 767 million in 2019. 

The four commodities are projected to pocket US$ 6.5 billion of export turnover in 2019, representing a year-on-year growth of 13.4%./. 

By Khanh Phuong