footwear

Year-on-year, the sector posted a robust growth of 23.5 percent in December 2024 compared to December 2023. For the full year of 2024, cumulative growth reached 13.7 percent compared to 2023, highlighting strong performance throughout the year.

Vietnam’s footwear exports total US$22.87 billion for 2024, reflecting strong demand despite the month-on-month decline.

The United States remained the leading importer, contributing US$42.48 million in November, marking an 11.37 percent increase from October.

Year-on-year, footwear manufacturing achieved impressive growth of 18.47 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, the sector recorded cumulative growth of 12.58 percent compared to the same timeframe last year, showcasing its vital role in Vietnam’s export economy.

China was the largest importer of Vietnamese rubber, purchasing US$368.75 million, an 11.01 percent rise from the previous month.

The United States remained the largest market, importing US$714.22 million, up 4.11 percent from October. China followed with a substantial increase of 46.99 percent to US$188.19 million, while Japan recorded an 18.14 percent rise to US$98.22 million. South Korea showed remarkable growth, surging 79.87 percent to US$65.48 million.

Year-to-date figures also show solid growth. From January to October, exports in this category totalled US$997.12 million, an 11.5 percent increase compared to the same period in 2023.

Year-to-date figures also indicate steady growth. From January to October, the sector’s exports totalled US$1.85 billion, a 13.3 percent increase compared to the same period in 2023.

Year-to-date performance highlights mixed results. From January to October, Vietnam exported 1.54 million tonnes of rubber, a 4.9 percent decrease in volume compared to the same period in 2023. However, export value increased by 16.4 percent, reaching US$2.53 billion, reflecting higher global rubber prices.

Year-to-date figures also show solid growth. From January to October, Vietnam exported footwear worth US$18.57 billion, a 12.9 percent increase compared to the same period in 2023…

Vietnam’s competitive advantage in footwear production is in its experienced labour and cost efficiencies. However, to maintain this momentum, the industry may need to address challenges related to global supply chain pressures, rising production costs, and the growing importance of sustainable and ethical production practices in the international market…

The United States remains the largest export market, but experienced a significant decline of 31.90 percent in September compared to August, as did China with a decline of 45.69 percent, while Japan and South Korea similarly saw large drops of 38.42 percent and 44.23 percent respectively…

Vietnam’s footwear exports fell by 2.1 percent in August over July from US$2.12 billion to US$2.08 billion. Footwear exports for the year, however, have reached US$14.95 billion which is an increase of 10.5 percent over the same period last year. The biggest recipients of shoes made in Vietnam in August were the United States, China, and the Netherlands.

This will add to Dah Lih Puh’s existing operations in Vietnam which are mostly conducted through its subsidiary Viet Glory. Viet Glory came to prominence in Vietnam in October of 2023, when 7000 of its workers went on strike in search of a pay rise. This was successful with workers returning to work six days later for a bigger paycheck…

The surge in exports has been largely driven by the elimination of import duties through various free trade agreements. When the EVFTA came into effect in 2020, for example, tariff lines on Vietnamese footwear exported to the EU reduced by 37 percent, with any remaining tariffs to be eliminated progressively by 2027…