Vietnam's footwear and leather industry is poised to achieve US$26-27 billion in export in 2024, marking a US$3 billion increase from the previous year, as the country has well capitalised on the signed free trade agreements to bolster shipment.

Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.

VOV.VN - With local businesses taking full advantage of various free trade agreements (FTAs), the leather and footwear industry is projected to fulfill the export goal of between US$26 billion and US$27 billion this year, according to details given by insiders.

VOV.VN - Vietnam is the second largest exporter of footwear in the world, with its estimated export volume accounting for 10% of the world’s market share.

Vietnam’s textile, garment and footwear makers aim to achieve a combined export value of US$77-US$80 billion in 2025 and US$106-US$108 billion in 2030, according to the strategy for the development of Vietnam’s textile and footwear industries.

VOV.VN - Vietnam has surpassed China to become the major manufacturer of Nike sports shoes.

VOV.VN - With the average growth rate of the footwear industry throughout the 2016 to 2019 period increasing by 12.1% annually, Vietnam ranked second in the world in terms of footwear exports, surpassing China to become the largest exporter of canvas shoes.

Recent rumours spreading on social media on Nike’s moving production out of Vietnam to China and Indonesia are incorrect, stated Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather and Footwear Association (Lefaso).

VOV.VN - The Vietnamese market will remain an attractive investment destination for foreign investors moving forward, the Hong Kong Shanghai Banking Corporation (HSBC) Vietnam said in its monthly macroeconomic update for September 2021.

Despite facing difficulties caused by the COVID-19 pandemic, Vietnam's footwear industry still achieved double-digit growth and some companies have received long-term orders.