Vietnam's footwear exports soar, US emerges as top market

According to Fibre2Fashion's market insight tool TexPro, the shipment of sports footwear (with outer soles of rubber, plastics, leather, or composition leather and uppers of textile materials) from Vietnam to the US was valued at $2.106 billion, which represented 27.44 per cent of Vietnam's total footwear exports of $7.676 billion. Vietnam exported leather footwear (HSN code 640399) worth $1.890 billion to the US, which accounted for 24.62 per cent of the total.

Similarly, footwear exports from Vietnam to the US under other HSN codes were notable. Valued footwear exports included HSN code 640391 at $1.141 billion (14.87 per cent), HSN code 640299 at $998.123 million (13 per cent), HSN code 640419 at $968.381 million (12.61 per cent), and HSN code 640219 at $195.009 million (2.54 per cent) during 2023, as per TexPro.

As footwear is manufactured using different types of materials and serves various purposes, they are classified according to material and usage. Footwear was exported from Vietnam to the US under two dozen HSN codes.

Vietnam's total footwear exports amounted to $25.244 billion last year, when it shipped 30.41 per cent of its footwear to the US, valued at $7.676 billion. In the current year, the share of footwear shipments to the US surged to 56.21 per cent in January-February. Vietnam shipped footwear worth $772.579 million to the US out of its total shipment of $1.374 billion in the same period.

ALCHEMPro News Desk (KUL)