Footwear Exports to EU Surge 15 per cent in Jan-Aug
Vietnam’s footwear exports to the European Union (EU) market was estimated to increase by 15 per cent on-year to $1.17 billion in the first eight months of 2006, accounting for some 50 per cent of the country’s total shoe export revenue in the period.
The Southeast Asian country is now the fourth largest footwear exporter to the EU behind China, Hong Kong and Italy, with a total export value reaching $2.3 billion last year.
Due to the EC’s anti-dumping tariff, Vietnamese shoe enterprises are turning to the US market. This is said to be a positive and reasonable market shift of the local businesses.
In the period, local companies shipped $7.5 million worth of footwear products to Argentina, soaring over 178 per cent against the same period last year.
Despite the EC’s punitive duty, the footwear industry sees an on-year increase of 21.7 per cent to reach more than $2.4 billion in the eight-month period.
This year, the industry expects to earn some $3.5 billion of export revenues, up 16-17 per cent against 2005.
Liberated Saigon
Vietnamese
