Footwear exports – flight from EU to Northern America
06 Mar '06
2 min read
Vietnam footwear exporting enterprises moving towards Northern American markets from European Union as total export turnover of Vietnam's footwear sector in 2005 remarkably slumped (gained just US$ 3.04 billion, a big $ 60 million less than the country's planned target) thank mainly to anti–dumping case by EC, Vietnam Ministry of Trade (MOT) stated.
Among Northern American countries importing Vietnam footwear, three countries US, Canada and Mexico are top ranked destinations and exports to those countries are expected to continuously grow in coming years, a source from MOT added.
In 2005, export turnover to US rose 47.06 percent over 2004, worth US $ 611 million (exceeding by over $ 70 million than the planned target) with main goods being sports shoes $ 400 million, knitting – capped shoes $ 75 million, leather – capped shoes $ 40 million and plastic shoes $ 18.
Market share of Vietnamese shoes in US went up from 2.9 percent in 2004 to 3.9 percent in 2005.
Meanwhile, export turnover to Canada in 2005 recorded the highest rate since recent 5 years, worth $ 73.38 million (up 52.64 percent over 2004). Canada has been importing goods, such as sports shoes, leather – capped shoes and waterproof shoes.
According to MOT statistics, Vietnam's footwear exports to Mexico also witnessed a sharp jump from just $ 3.9 million in 1998 to nearly US$ 90 million in 2005.
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