Vietnam exports of leather, footwear down 10% to $16.5 billion in 2020
Government support is needed for the local leather and footwear sectors to realize the export target of $20
Footwear exporters booked US$2 billion in revenue in September, taking the total in the first nine months of this year to around US$21 billion, up from US$20.8 billion in 2021, the local media reported.
By the end of 2022, the industry is likely to meet the export target of US$25 billion, according to Diep Thanh Kiet, vice chairman of LEFASO.
Still, major importers like the United States and the European Union tend to reduce consumption, making life difficult for domestic enterprises.
Although the foreign trade outlook for 2023 seems to be bleak, footwear exports might increase 6% versus 2022 to US$26.5-27 billion.