Footwear export turnover exceeds $10.5b in Jan-Aug

26-Sep-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

Vietnam’s footwear sector in the year up to August posted $10.53 billion in export turnover, up 9.6 percent versus the year-ago figure. Last month alone witnessed a year-on-year increase of 10.5 percent in export turnover, at $1.4 billion, the local media reported, citing data from the Ministry of Industry and Trade.

The United States is reportedly the main importer of Vietnamese footwear, accounting for 36 percent of the country’s total, equivalent to $3.81 billion, rising 13.4 percent against the year-ago period. Meanwhile, Europe is the second source market, comprising some $3 billion in total, up 0.6 percent year-on-year.

The data also indicates that, from January to August this year, footwear shipments to China exceeded $900 million, up 30 percent compared with last year’s figure, followed by Japan and South Korea, with corresponding values of over $500 million and $300 million.

The general secretary of the Vietnam Leather, Footwear and Handbag Association (LEFASO), Phan Thi Thanh Xuan, said these source markets had made a remarkable contribution to encouraging domestic footwear exports.

According to Xuan, the United States is still the country’s largest importer, while neighbouring country China is the main supplier of footwear materials for Vietnam.

To promote the local consumption of footwear products, LEFASO has teamed up with the Domestic Market Agency under the ministry to roll out multiple programmes supporting footwear enterprises, such as hosting a conference on demand and supply connections and calling on local firms to join price stabilisation fairs, Xuan said.

In the coming days, LEFASO plans to gather high-quality footwear and handbag brands to form a chain and then launch operations in shopping malls, supermarkets and stores. In addition, the association will develop marketing programmes to introduce standard products to customers, stated Xuan.

https://english.thesaigontimes.vn/62882/footwear-export-turnover-exceeds-us$105b-in-jan-aug.html

 


Category: Economy, Vietnam

Print This Post