Leather footwear exports likely to earn 27 billion USD in 2024
(VOVWORLD) -The Vietnam Leather, Footwear, and Handbag Association forecasts that the industry’s export turnover will be between 26 and 27 billion USD this year.
 Producing shoes for export to the EU market at Ha Tay Textile Chemistry Co., Ltd. Photo: Tran Viet/VNA
|
In the first half of the year, Vietnam's leather and footwear exports earned 6.5 billion USD, up 5.7% from the same period last year. The US made up the largest share at 35%, followed by the EU at 26%. Experts say Vietnam has significant competitive advantages for footwear and handbag production thanks to its many free trade agreements, which cover more than 60% of global trade volume.
Vietnam has more than 1,000 shoe factories employing 1.5 million workers and contributing 8% of the national GDP. The country’s industrial development strategy to 2025, with a vision to 2035, makes textiles, garments and footwear a priority industry.