Footwear Exports Peak in August

The Trade Information Center says Vietnamese footwear exports peaked in August reaching US$290 million and growing 30 percent against a year ago.

 

Footwear exports in the first eight months of this year are estimated at US$1.996 billion, 11.27 percent up against the same time last year. The Ministry of Trade says if footwear exports grow as rapidly as in August, export earnings will hit US$3.1 billion this year.

 

The Vietnam Leather Footwear Association says since the beginning of this year footwear exports to several EU countries have been declining, particularly those to the UK, Vietnam’s largest market in Europe. However, increased exports to America have contributed to expanding Vietnamese export revenue. Among Vietnam’s markets in America, the US, Canada, and Mexico have grown fairly rapidly.

 

The US has now become the number-one buyer of Vietnamese footwear, while at the same time Mexico has been the largest importer of Vietnamese canvas shoes in North America.

 

Particularly, exports to Canada were about US$9 million in August and US$50.5 million in the first eight months of this year, growing over 50 percent against the same months of 2004.