Vietnam’s leather and footwear exports to Canada this year are expected to exceed $700 million for the first time.

The result represents an increase of 3.5-fold compared to a decade ago and nearly 1.5-fold since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into force.

The Ministry of Industry and Trade said Canada’s footwear market is estimated to be worth some $6 billion and will soon increase to $7-$8 billion.

Canada ranks among the top 5 footwear-consuming countries and 13^th by footwear market revenue.

However, it is estimated that the country itself can only meet about 10 per cent of domestic demand, and is anticipated to be spending up to $2.7 billion annually on footwear imports by 2030.

Competitiveness in the market is significant, said Ms. Tran Thu Quynh, Vietnamese Trade Counselor in Canada.

Of the ten largest footwear exporters to Canada, she went on, Vietnam is less competitive in terms of a complete material supply chain than Cambodia, China, India, Indonesia, and Bangladesh.

“To sustainably expand market share and boost revenue of footwear exports to Canada, Vietnamese enterprises need to build up their brands,” Ms. Quynh recommended.

Enterprises should also target the low-middle income segment of young people willing to change and spend money on new clothes.

“Enterprises should also take part in international fairs and exhibitions, as such events offer them the opportunity to directly meet with wholesalers,” she added.

Second behind China, Vietnam posted turnover of $543 million from footwear exports to Canada in 2021, followed by Italy with $247 million, Cambodia $133 million, and Indonesia $89 million.