Vietnam’s Leather and Footwear Exports See Considerable Rise
Oct. 7 – Exports of leather and footwear goods in Vietnam are expected to generate at least US$5.4 billion by the end of the year, the Vietnam Leather and Footwear Associated announced.
So far this year, trade in the goods has increased 23.1 percent year-on-year to US$3.6 billion in Vietnam, the world’s fourth largest exporter of leather and footwear products.
In order to sustain healthy growth, the association has submitted an official strategy of development to the Vietnamese government which aims to increase the rate of domestic materials used in the production of leather and footwear products to between 65 percent and 75 percent, up from current levels of roughly 50 percent.
The European Union is Vietnam’s primary market for such exports, followed by the United States, Mexico, Brazil and Japan.
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