Footwear alone accounted for around $12 billion—up by 10.1 per cent YoY, while handbags, suitcases and umbrellas contributed nearly $2.2 billion—an 11.6 per cent increase YoY.
Vietnam is the third-largest producer of such products now globally, manufacturing 1.4 billion pairs of shoes annually, behind China and India. The country ranks second in exports of such items worldwide, with 1.3 billion pairs exported each year, trailing only China.
The industry targets a 10-per cent YoY growth this year, aiming to reach $29 billion in total export value, domestic media outlets reported.
To achieve this, companies are accelerating the shift towards green and circular production models, enhancing environmental sustainability and using more raw indigenous materials to meet the stringent standards in key markets such as the European Union and the United States.
ALCHEMPro News Desk (DS)
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