Footwear accounted for over US$24 billion of the total, with the remainder coming from handbags, suitcases and umbrellas.

According to data from Vietnam Customs, footwear exports continued to be the main driver, posting growth of nearly 6% year on year, while exports of handbags, suitcases and umbrellas rose by more than 8%. With these results, the sector came close to meeting its export target for 2025.

A report by the Vietnam Leather, Footwear and Handbag Association (Lefaso) noted that the near US$29 billion outcome was achieved as demand in major markets has yet to recover strongly, input costs remain elevated, and requirements related to environmental standards and traceability are becoming increasingly stringent. Even so, thanks to its production capacity, processing experience and ability to capitalize on free trade agreements, the sector has maintained positive growth momentum.

The US continued as the industry’s largest export market, with total shipments exceeding US$11 billion in 2025, accounting for a substantial share across both footwear and handbag product groups.

The European Union (EU) ranked second with nearly US$6.9 billion and remains a market with high requirements for environmental standards and social responsibility. Other key markets included China, Japan and the Republic of Korea (RoK).

Within the EU, exports in 2025 recorded growth compared with the previous year, driven by increases across several member states, led by the Netherlands, Belgium and Germany.

In terms of structure, the foreign direct investment (FDI) sector continued to play a dominant role, making up for around 80% of the industry’s total export value. Meanwhile, exports by domestic enterprises reached nearly US$6 billion, posting a high growth rate and reflecting notable efforts to expand market share and seize market opportunities.

Domestic market still holds huge potential for textile and footwear industries

VOV.VN - As global demand for Vietnam’s textile and footwear exports becomes increasingly volatile, the domestic market is seen as a major opportunity if it is fully tapped, said industry insiders at a conference held in Ho Chi Minh City on August 22.