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Leather & footwear exports grow exponentially
12
Oct '10
According to the Vietnam Leather and Footwear Association, the leather and footwear exports this year are likely to surge to US $5.4 billion.

The sector's turnover for the initial nine months of current year has grown to US $3.6, up by 23.1 percent over corresponding period of last year. Whereas, EU continues to be the largest importer of Vietnamese leather and footwear items, US, Mexico, Brazil and Japan follow in its footsteps.

Reports released by the Ministry of Industry and Trade reveal that, backed by the global economic revival, there has been a vigorous rise in country's leather and footwear exports as compared to 2009. Vietnam now is the fourth biggest exporter of leather and footwear items across the world.

In spite of all this, the sector still has to rely on foreign raw material, funds and equipments. Hence, the Vietnam Leather and Footwear Association has presented a new plan for development through 2020, whereby they intend to hike the use of local raw-material from current 50 percent to almost 65-75 percent.

Fibre2fashion News Desk - India

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