Footwear exports to US skyrocket

(VOV) - Vietnam’s footwear exports jumped 21.2% to more than US$5.85 billion in the first half of this year, according to statistics released by the General Department of Vietnam Customs.

Of the figure, exports to the US rose rapidly by 30.2% to US$2 billion, which was equal to export earnings from the EU market with a growth of 17%.

The EU has been the biggest importer of Vietnamese footwear for many years. For example in 2009, footwear exports to the US were around US$1 billion, which was half of the value earned from the EU market.

Truong Thi Thuy Lien, Director of Lien Phat Footwear Company in Binh Duong province said footwear exports in the second quarter of this year thrived and most footwear businesses have had orders up to the end of February next year.

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Currently, FDI and domestic businesses tend to focus on the US market, Lien revealed.

According to statistics from the Office of Textiles and Apparel (OTEXA) of the US Department of Commerce (DOC), the US imported more than US$1,101 billion worth of footwear products in the first five months of this year, of which imports from China accounted for over 78% and from Vietnam, 12%.

However, OTEXA said that footwear imports from China have reduced continuously from 2010. Meanwhile, imports from other Asian countries, particularly from Vietnam, have increased sharply in recent years as US businesses are finding ways to be less dependent on China.

Nguyen Duc Thuan, President of the Vietnam Leather and Footwear Association (Lefaso Vietnam) said the sector is likely to fulfil its target of US$14.5 billion exports with an annual growth of 20% set by the Ministry of Industry and Trade.