Vietnam’s production of leather and related products increased by 1.9 percent in December 2024 compared to November 2024, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector saw a significant expansion 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 a robust performance in this critical industry.
The December increase reflects steady demand in both domestic and international markets, while the strong year-on-year growth points to a recovery in global demand for footwear, bags, and other leather goods. The sector has benefited from Vietnam’s competitive labour costs, favourable trade agreements, and a diversified export market.
Leather and related products are a key part of Vietnam’s manufacturing sector, with the country being a leading global exporter of footwear and bags. The industry continues to attract investment in innovation and sustainable practices to meet growing environmental and social standards in international markets.
The impressive growth underscores Vietnam’s position as a major player in the global leather goods industry and its potential for further expansion.
See also: Footwear Manufacturing in Vietnam