FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR

Vietnam’s leather and footwear export revenue is expected to reach around US$26-27 billion this year, up from US$24 billion last year, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso).

This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.

Companies are rehiring workers to ramp up production following recent cutbacks, said Phan Thi Thanh Xuan, vice chairwoman and secretary general of Lefaso.

The industry is shifting away from low-value products due to their low profit margins. Instead, it will focus on mid-to-high value segments to boost profitability.

Vietnam’s footwear exports surpassed US$6.5 billion in the first half of this year, a 5.7% increase over the same period in 2023. Xuan noted that the main export markets were the U.S. (35%), the EU (26%), Japan, South Korea, and China.

China is emerging as a significant market, buying 9% of Vietnam’s footwear exports. Experts highlight Vietnam’s competitive edge due to its numerous free trade agreements.

Vietnam has over 1,000 footwear factories employing around 1.5 million workers, contributing about 8% to the nation’s GDP. The southwestern and central regions offer ample labor, low costs, and large areas of vacant land, presenting significant growth opportunities.

Domestic firms are urged to leverage FTAs, especially with the EU, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to drive export growth.

Vietnam’s industrial strategy, outlined in Decision No. 879/QD-TTG on June 9, 2014, prioritizes textiles and footwear as key industries through 2025, with a vision toward 2035. This strategy underscores the importance of the footwear sector in the country’s economic development plans.

Source: VNS

Related News

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIỆT NAM-CAMBODIA TRADE GATHERS PACE TOWARDS $20 BILLION TARGET

Trade between Việt Nam and Cambodia continues to grow, remaining a bright spot and a key pillar of bilateral cooperation as the two countries aim to raise two-way trade to US$20 billion in the coming years. After setting a record of more than $11.3 billion last year, bilateral trade reached about $8.7 billion in the first eight months of this year, up 8.3 per cent year on year.

Oct 14, 2026

TECHNOLOGY

AI BEGINNING TO RESHAPE RECRUITMENT CRITERIA

Digital literacy is the only capability area in which fresh graduates meet employers’ expectations, according to a new report. Yet, it is also the standard rising fastest, as businesses increasingly expect new hires to use AI effectively in the workplace. Some 83 per cent of employers say AI has changed, or is beginning to change, their hiring criteria, while 94 per cent report higher expectations for digital and AI capabilities than they had two to three years ago.

Oct 14, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

ĐÀ NẴNG GREEN-LIGHTS US$105 MILLION THAI DEVELOPMENT DEAL

The central city has approved an investment proposal by Thailand’s WHA Group to develop infrastructure for the 400ha WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million). The city said it approved WHA Industrial Development International's status as an investor in the project, which is expected to take place between 2027 and 2034.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

MOBILE PHONE EXPORTS RISE 20% TO $51.8 BILLION IN FIRST NINE MONTHS

Exports of mobile phones and components rose 20 per cent year-on-year to nearly US$51.8 billion in the first nine months of 2026, with China, the US and Republic of Korea accounting for more than half of the total. Shipments to the three markets reached a combined $26.18 billion, or 50.6 per cent of total exports of the product group during the period, according to data from the Vietnam Department of Customs under the Ministry of Finance.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

FRUIT AND VEGETABLE EXPORTS POISED TO HIT $10 BILLION IN 2026

Fruit and vegetable exports are on track to reach nearly US$10 billion in 2026, after rising 19.9 per cent year on year to nearly US$7.4 billion in the first nine months, driven by strong seasonal demand and abundant tropical fruit supplies. The Ministry of Agriculture and Environment said the growth reflected stronger international demand for fresh produce and processed agricultural products.

Oct 14, 2026

GARMENT / TEXTILE

TEXTILE EXPORTS FACE DUAL CHALLENGES OF SUSTAINING ORDERS AND BOOSTING EFFICIENCY AMID GROWING COMPETITION

Data shows that the textile and garment sector maintained its growth momentum in the first nine months of this year. The industry's total export turnover reached an estimated US$35.721 billion in the first nine months of this year, up 3.3 per cent year-on-year. Despite posting encouraging export figures, Vietnamese textile and garment enterprises continue to navigate unpredictable market variables.

Oct 14, 2026