Vietnamese footwear exports rise in July

04 Aug '11

2 min read

Vietnam's footwear exports touched US$ 600 million mark in July 2011, as per the data released by the General Statistics Office.

During the initial seven months of the current year, the country's overall earnings from footwear exports grew to US$ 3.62 billion, with a year-on-year rise of 30.7 percent. If such a positive trend persists, Vietnamese footwear industry would be able to achieve the export target of six billion USD set for the current year.

However, the earnings from low-end footwear dropped by around 46 percent during the period, as the industry is more concentrating on the export of high-end items.

Exports of other related items including hats, bags, wallets and umbrellas grew to US$ 730 million during the January-July period, up by 35.6 percent as compared to corresponding period last year. Such a steep rise has helped the leather item exports to become one of Vietnam's top ten successful businesses.

In spite of being the third-biggest manufacturer of leather and footwear products across the globe, it is only in recent times that Vietnam has started promoting its personalized brands. Hence, the overseas buyers are more accustomed to Italian and Chinese items more than Vietnamese products.

The steep rise in Vietnamese leather and footwear exports is being attributed to the move of prestigious companies to shift their production base from China to Vietnam, as a part of expanding their facilities to be able to cater to the growing demand.

Fibre2fashion News Desk - India

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