Viet Nam Becomes World’s Second Largest Footwear Exporter

8:53:24 AM | 2/11/2024

Viet Nam is the world's second largest exporter of footwear with its estimated export volume accounting for 10 percent of the global market share, reported the Ministry of Industry and Trade.

In 2023, the Southeast Asian nation earned over US$20.2 billion from exporting footwear, down 15.3 percent against the previous year, statistics of the General Department of Customs showed.

The U.S. was the biggest importer of Vietnamese footwear last year, with US$7.1 billion, down 25.5 percent. It was followed by China with US$1.8 billion, up 9.3 percent and Belgium US$1.2 billion, down 26 percent.

In 2020, Viet Nam became the largest exporter of canvas shoes in terms of value, surpassing China, according to the World Footwear Yearbook.

A series of world-famous footwear brands such as Nike, Adidas, Reebok, and Puma have all been outsourced and produced in Viet Nam in large quantities.

Viet Nam has exported footwear products to more than 150 markets around the world with key markets in the U.S., the EU, China, Japan, the UK, and others.

Source: VGP