US top market as Vietnam's footwear exports fall in Jan-Aug 2024

02 Nov '24

2 min read

US top market as Vietnam's footwear exports fall in Jan-Aug 2024

Pic: Adobe Stock

Insights

Vietnam's footwear exports reached $16.292 billion between January and August 2024, a 4.9 per cent decline from the same period in 2023.
The United States was the largest market, accounting for 30.26 per cent of total shipments.
Regional exports were primarily directed to North America (34.97 per cent) and the Asia-Pacific (31.59 per cent).
Total exports in 2023 dropped 11.27 per cent.

Vietnam exported footwear worth $16.292 billion between January and August 2024, a 4.9 per cent decline compared to $17.132 billion in the same period last year. In 2023, the country’s total footwear exports amounted to $25.294 billion.

The United States was the largest market for Vietnam's footwear exports in the first eight months of 2024, with exports totalling $4.929 billion, accounting for 30.26 per cent of the total shipments. Exports to China stood at $1.899 billion (11.66 per cent), to Japan $903.122 million (5.54 per cent), to the Netherlands $896.565 million (5.50 per cent), and to Belgium $840.189 million (5.16 per cent), according to Fibre2Fashion's market insight tool TexPro.

The next five top markets were South Korea (5.03 per cent), Germany (4.07 per cent), Canada (2.65 per cent), Switzerland (2.11 per cent), and Mexico (2.06 per cent).

Regionally, North America was the largest market for Vietnamese footwear exports, accounting for 34.97 per cent of the total exports in the first eight months of 2024. The Asia-Pacific region made up 31.59 per cent, Europe 25.66 per cent, Central and South America 3.24 per cent, and the Middle East 3.24 per cent, as per TexPro.

Fibre2Fashion News Desk (KUL)

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This according to Fibre2Fashion's Market Intelligence Tool - TexPro