January footwear exports gain $1.85bln

Footwear exports in January pulled in $1.85 billion, a year-on-year increase of 35 per cent, according to the General Statistics Office (GSO).

It was one of seven groups of products to post export value in excess $1 billion during the month, the Cong Thuong (Industry and Trade) online newspaper has reported.

The leather and footwear industry focuses on five major export markets, with the US accounting for the largest proportion, of about 35 per cent, followed by the EU with 26 per cent then Japan and South Korea, according to Ms. Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather, Footwear and Handbag Association (LEFASO).

China accounts for 9 per cent but is also considered a market of potential this year.

According to experts, Vietnam holds certain competitive advantages compared to other countries in footwear exports, including having signed 15 free trade agreements with short tax reduction roadmaps, good quality human resources, and the prestige of Made-in-Vietnam footwear products.