Vietnam, footwear and accessories close a golden 2018: exports grow in double digits, for a value of 20 billion

2018 comes to an end, bringing positive results for Vietnam’s footwear industry. During the year that just ended, the Asian country exported nearly 11% more than in 2017. Moreover, bags and luggage also performed well on foreign markets. According to data from LEFASO (Vietnam leather, Footwear and Handbag association), the reference association for the sector in Vietnam, companies that manufactured such leather goods has total revenue of 19.5 billion USD. 90.6% of that amount, came from the first 11 months of the year, with an 8.4% increment if the same time period in 2017 is compared. Considering footwear-related revenue only, exports generated revenue for 14.6 billion USD during the year, growing at a 10.9% rate on yearly base. On the other hand, the bags and luggage segment sold 3.07 billion USD worth of goods, growing at a 3% rate, in comparison to the previous year. With regards to the destination of the merchandize, Vietnam sold footwear in 100 countries around the world, with the United States, European Union, China, Japan and South Korea, being the reference destinations, and accounting for 82% of total exports. Going into details, communicates LEFASO, sales in the US were up 10%, an increment worth half of that of other countries in Asia. The reason for this exploit, according to Vietnam’s footwear association, is tied to the free-trade agreement with such nations (ASL).


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