Vietnam’s footwear exports totaled $1.17 billion in February, down by 40.3 percent compared with January. In the first two months of the year, the country’s footwear exports reached $3.1 billion, according to the General Statistics Office.
In the two-month period, exports to the US rose by 25 percent year-over-year to $1.1 billion. The US is Vietnam’s main export market for shoes, representing about a third of the country’s foreign shipments.
China was the second largest buyer with $318 million worth of Vietnamese footwear, up by 11.4 percent year-over-year, followed by Belgium with $191 million, up by 10 percent.
In 2023, Vietnam generated $20.2 billion from footwear exports in 2023, making it the world’s second largest exporter with an estimated market share of about 10 percent. Last year, exports were down by 15.3 percent compared to 2022.
The country aims to achieve footwear exports of $27 billion to $28 billion by 2025 and $38 billion to $39 billion by 2030.
