Despite Covid-19, Vietnamese footwear have achieved a very good performance in 2020 first quarter. Yet, they now fear a downturn in orders coming from the United States. Therefore, they are focusing on the whole of their American clients. According to data provided by the Hanoi Times, in 2019, Vietnam’s footwear exports amounted to 18.3 billion US dollars: they increased by 12.8%.
The United States are still the most important end market as their imports reached, in terms of value, 6.65 billion dollars, that is, +14.2%. Trade war, between Trump and China, has been driving such positive trend, which kept going on in the first three months of 2020. According to Vietnamplus portal, which reports customs data, in 2020 first quarter, despite Covid-19, Vietnam’s exports towards the United States reached 1.56 billion dollars: they have therefore increased by 10%.
Concern and advertising
Nevertheless, Vietnam’s footwear industry expressed its concern about the future because the pandemic, closely monitored and controlled by Vietnamese government, is bringing on heavy economic repercussions in the States. Besides an overall downturn in orders, several US importers also cancelled some orders formerly forwarded. That is why Vietnamese manufacturers, while waiting for the end of the virus outbreak, are working on promotional and advertising activities directed at their US clients. On May 28-30, sixty American importers will talk to eighty Vietnamese partners to spotlight some cooperation opportunities. They are going to do it during a video conference arranged by Vietnam’s authorities in collaboration with FDRA, the association of footwear distributors and retailers of America.
- ISA TanTec doubles down on Vietnam and opens the Tay Ninh tannery
- Vietnam, Covid-19 breaks up (but doesn’t erase) leather’s plans