Vietnamese Footwear Accounts for 4 per cent of US Market
Vietnamese footwear products accounted for over 4 per cent of the US market as of the end of 2005, compared with 0.86 per cent in 2000, according to the Ministry of Trade (MoT).
The US imported US$717 million worth of footwear products from Vietnam last year, up 51.59 per cent against the previous year, the ministry said.
The US’s footwear import from Vietnam witnessed a six-fold increase within five years. Vietnam has surpassed Thailand, Mexico and Indonesia to become the fourth biggest footwear exporter to the US.
The ministry also said the US market’s demand for footwear products is forecast to continue rising in the coming years. This is the most favorable condition for Vietnamese footwear enterprises to expand their export market, avoiding damages caused by the EU’s anti-dumping lawsuit.
In 2006, Vietnam is expected to earn US$1 billion from footwear exports to the US.
Vietnam Economic Times
Vietnamese
