Topic: leather and footwear

Textiles and footwear are Vietnam’s two key export sectors, with export revenue consistently growing over the years, achieving an average growth of over 10% per year

The sector's export turnover reaching $10.14 billion in 7M.

The US remaining the biggest importer.

Exports rose 30% in the first ten months of this year.

Total export turnover in first 11 months of 2022 reaches $25.76 billion.

Export revenue tipped to reach $38-39 billion by 2030.

Brand building would help Vietnamese enterprises expand their market share further in the country and boost export revenue.

The Vietnam Leather, Footwear and Handbag Association (LEFASO) has reported that leather and footwear exports have been quite positive in the first half of 2022 but uncertainties over raw material supplies and orders slowing in the closing months of the year are still of concern to businesses. The industry will continue to face risks such as large inventories and slowing orders in the second half.

According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), in the first half of 2022, leather and footwear exports are quite positive, but the uncertainties about raw material supply and orders slowing down in the last months of the year still make businesses "restlessness". In the second half, the industry still faces many risks such as large inventory, or slowed-down orders from now until the first quarter of 2023.