THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Viet Nam emerges as world’s second largest footwear exporter
VGP - Viet Nam is the second biggest footwear exporter worldwide with an estimated export volume accounting for 10 percent of the world’s overall market share, according to the General Department of Viet Nam Customs.
Footwear export turnover valued US$3.1 billion in the first two months this year, representing an increase of 13.8 percent against the same period last year.
Local footwear products are available in 150 foreign markets worldwide, including the U.S., the European Union, China, Japan, and the UK.
The strongest export growth was recorded in the U.S. market with a turnover of US$1.1 billion, up 25 percent year on year, followed by China and Belgium with turnover rising by 11.4 percent and 10 percent to more than US$318 million and over US$191 million, respectively.
The national strategy to develop the textile, garment, and footwear industry by 2030 with a vision towards 2035 was issued on December 29, 2022.
Under the strategy, footwear exports are expected to grow by 10 percent to 12 percent per year in the 2022 - 2026 period and bring in US$27 – 28 billion in revenue by 2025 and US$38 - 39 billion by 2030.
Viet Nam is currently considered to be a reputable producer of various types of footwear products, especially sports shoes./.