| Footwear exports in the first 8 months of 2023 decreased sharply. In September 2023, Vietnam's footwear exports of all kinds earned more than 1.33 billion USD. |
According to statistics from the General Department of Customs, Vietnam's footwear exports in December reached more than 1.8 billion USD, down 3.6% compared to the previous month. Thus, by the end of 2023, footwear exports brought in more than 20.2 billion USD, down 15.3% compared to 2022.
Since 1998, footwear has joined the club of products with export turnover of 1 billion USD or more and quickly entered the group with high turnover. Vietnam's footwear export output is second only to the Chinese market.
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| In 2023, footwear exports brought in more than 20.2 billion USD |
Vietnam is currently ranked second in the world in footwear exports with an estimated export volume accounting for 10% of the world. Notably, in 2020, Vietnam became the world's largest exporter of fabric shoes in terms of value, far surpassing China (according to World Footwear Yearbook). Vietnamese footwear products have been exported to more than 150 markets around the world, focusing on major markets such as the US, EU, China, Japan, UK, etc.
In terms of import markets, the US, China and Belgium are the three largest markets for Vietnamese footwear. In 2023, the US spent more than 7.1 billion USD importing footwear from Vietnam, down 25.5% compared to 2022. China is the second largest market and one of the few markets to witness positive growth. The export value to its neighbors reached 1.8 billion USD, up 9.3% compared to 2022.
The Belgian market ranked third with more than 1.2 billion USD, down 26% compared to the previous year. 2023 is a difficult year for the Vietnamese footwear industry. The reason comes from the decline in major markets such as the US, EU, and Japan due to inflation, declining consumer power, especially the large number of inventory items.
In 2024, the Vietnamese textile and garment industry strives to achieve an export turnover target of 44 billion USD, an increase of 9.2% compared to 2023. Despite many difficulties, leather and footwear are being identified as Vietnam's key export industry, with quality products that are competitive in the world market. The goal of the leather and footwear industry is that by 2030, the total export turnover of footwear and handbags will reach 38-40 billion USD.
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