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Vietnam: Footwear Exports Climb 23% in 1Q 06

Vietnam: Footwear Exports Climb 23% in 1Q 06

Write: Finn [2011-05-20]

Vietnam footwear export market continue its firm growth as over 23 percent rise in sales was registered reaching almost US $816 million during the first quarter of this year.

This was remarkable considering all the problems caused by the European Trade Commission? anti-dumping duties that will take effect as of April 7.

This success was chiefly due to emergence of new important markets like the US and Canada other than the EU.

Statistics reveal that the footwear exports in the first two months to the US touched $2 million mark and to Canada $1.5 million mark which is almost $1.7 and $1.3 million more respectively, as compared to the same period in 2005.

Country aims at gaining atleast $3.7 billion in footwear exports this year.

Vietnam Leather and Footwear Association has suggested several ways and improvisations that will assist in reaching this target.

Modernized equipments should be provided to the domestic producers to upgrade the quality of their products.

Last year, the Vietnamese footwear industry posted export revenue of only $3 billion, despite a targeted turnover of $3.3 billion, the association reported.