Export of footwear increased by 13.16 per cent YoY to $23.24 billion, while export of suitcases and bags stood at $3.8 billion—up by 9.7 per cent YoY.
The United States was the biggest importer of Vietnamese footwear products, with a 36.5-per cent market share in the first 11 months of 2024, followed by the European Union (EU), China, Japan and South Korea.
However, value addition by domestic producers was limited, as they primarily engaged in contract manufacturing and relied heavily on raw materials imported from China, South Korea and countries from the Association of Southeast Asian Nations bloc, a domestic news outlet reported.
The sector targets to raise export value to around $29 billion this year—up by 10 per cent YoY.
Local enterprises have approached e-commerce platforms like Alibaba and Amazon to open up more consumption channels.
ALCHEMPro News Desk (DS)
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