From January To April 2022, Vietnam's Clothing And Footwear Industry Has Achieved Good Results

In the face of the complex international situation and the difficulties caused by the new crown epidemic, Vietnam's leather and footwear industry has made full use of the preferential policies of the existing trade agreements to face the difficulties and the situation is very good. In the first quarter of 2022, Vietnam’s footwear exports reached US$5.288 billion, an increase of 10.1% compared to the same period in 2021.

Picture from internet.

According to data released by the World Leather and Footwear Yearbook 2021, the share of Vietnam’s footwear industry in the global market has increased from 2% to 10% in the past decade. In 2020, Vietnam exported a total of about 1.2 billion pairs of shoes, ranking second in the world in terms of export volume. The Vietnamese footwear industry is expected to grow by 10-15% in 2022, reaching around US$23-25 billion. At present, it seems that there is a good chance to achieve the annual growth target.

Large-scale leather and shoe-making enterprises in Vietnam are mainly concentrated in the industrial zones of Ho Chi Minh City, Dong Nai, Binh Duong, Long An, Qian Giang and other provinces and cities. Nearly 70% of the industry's output and export value come from these regions, of which Dong Nai Province is the origin of Vietnam's footwear. The province with the highest export value. According to the Department of Industry and Trade of Dong Nai Province, the footwear produced in Dong Nai Province has been exported to more than 100 countries and regions around the world, and it is the largest export industry in the province.

In the first four months of this year, Dong Nai’s footwear exports exceeded US$1.7 billion, accounting for nearly 20% of the province’s total exports, an increase of 11.5% year-on-year. Since the beginning of the year, Dong Nai's footwear exports to the United States and Belgium have maintained substantial growth. From January to April this year, exports to the United States were US$747 million, a year-on-year increase of 26%; exports to Belgium were about US$260 million, an increase of 49%. A considerable number of shoe-making companies said that overseas orders are quite sufficient in 2022, and the production task has been arranged in the fourth quarter.

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At the same time, data from the Vietnam Textile and Apparel Association (Vitas) show that from January to April this year, the export value of Vietnam's textile and apparel industry was nearly 11 billion US dollars, an increase of 21.6% over the same period in 2021. Vietnam's exports to traditional markets such as Europe, the United States and Japan were positive. growth trend. Behind the various trade agreements and government policies boosting the growth of the industry, it should also be recognized that Vietnam's textile and garment industry still faces challenges such as high transportation costs, a large proportion of raw material imports, supply chain disruptions, rising raw material costs, and rising bank interest rates.