Overseas shipments within the first seven months of 2022 earned more than 14 billion USD for the leather and footwear sector, an annual increase of 13%.
Source: The Hanoi Times
During the period, the export revenue of the products from North America and the EU grew by 24% and 17.5%, respectively.
The export value also saw a good recovery in markets signing a free trade agreement with Vietnam, for example, an 18.2% increase in exports to Vietnam-EU FTA members, and a 10.5% rise in CPTPP member markets.
Phan Thi Thanh Xuan, Vice Chairwoman of the Vietnam Leather Footwear and Handbag Industry, said that the sector would face both opportunities and challenges in the year's remaining months.
She added that key export markets of Vietnam like the EU and the US are experiencing a reduction in consumption, hence an impact on purchasing power.
Vietnam earned 20.78 billion USD from the export of leather and footwear in 2021, up 4.6% from 2020, including 17.77 billion USD from footwear alone, up 6.1%.
Various world-famous brands, including Nike, Adidas, Reebok, and Puma, have selected Vietnam as a destination for outsourcing and setting production bases.