Handicraft makers aim for US$5 billion in export by 2025

The Vietnam Handicraft Exporter Association reports that Vietnamese handicraft products now enjoy a presence in 163 countries and regions globally, with export turnover throughout the 2015 to 2019 period increasing by an average of 9.5% annually from US$1.62 billion in 2015 to US$2.23 billion in 2019.

The United States remains the largest consumer of Vietnamese handicraft products, accounting for 35% of the country’s annual export turnover. It was followed by markets such as Japan, the EU, Germany, the UK, France, the Netherlands, Australia, and the Republic of Korea.

Vietnam’s major handicraft export products include bags, purses, suitcases, hats, umbrellas, toys, sports equipment, ceramics, rattan, bamboo, sedge, and carpets.

In addition, several fashionable items and gifts have also been exported by meeting the shopping needs of foreign visitors to the country, which accounts for roughly 15% of total spending, equivalent to approximately US$15 per person.

According to the Ministry of Industry and Trade (MoIT), one of the major solutions for the sustainable development of the local handicraft sector is to increase the commercial value of products and participate in international trade fairs in order to seek stable outlets for these products.

The handicraft sector has therefore been urged to devise strategic orientations for exports moving ahead to the 2021 to 2025 period, with a focus on commodity groups that enjoy competitive advantages, and improve overall product quality to meet requirements set by other market segments, especially the middle and high-end markets.