Vietnam's Footwear Industry Will Continue To Grow In The Future

Vietnam? shoes Export growth prospects for the future

Footwear industry is one of Vietnam's key export industries, which has been creating huge export volume for the country, occupying over 10% of the total export volume of the country. In the future, Vietnam's footwear industry still has great potential.

According to statistics from the customs and Excise Department of Vietnam, the export volume of Vietnamese footwear has recovered strongly after the 4 consecutive month of decline in October. In October, the export volume amounted to US $716 million 700 thousand, a significant increase of 30.51% over the previous month. In the first 10 months of this year, Vietnam's footwear exports totaled nearly 6 billion 700 million US dollars, up 15.13% over the same period last year. Industry experts said that Vietnam's footwear industry will also achieve good export results in the end of this year. The total export volume of footwear in this year can reach 8 billion dollars, setting a new record.

In the first 10 months, Vietnam's footwear exports continued to grow in its traditional markets, the United States and the European Union, which accounted for 66.3% of Vietnam's total footwear exports. In addition, Vietnam's footwear exports to China, Brazil, Slovakia, Argentina, India and other countries and regions showed rapid growth.

Vietnam's footwear industry has developed rapidly because of its various advantages. First of all, Vietnam has abundant and cheap labor force. Secondly, Vietnam's footwear exports to the United States, the European Union and ASEAN enjoy many preferential policies, which is one of the countries that are less affected by international trade restrictions and anti-dumping. It has been reported earlier that Vietnam will enjoy the EU GSP next year, which will sharply reduce European tariffs on Vietnam's footwear products. In addition, Vietnam and the EU are currently actively promoting the signing of the FTA. If it can be signed, the EU tariff will be reduced from 12.4% to 0%, and EU countries will also invest in Vietnam in the field of shoemaking, machinery and equipment, so as to boost Vietnamese enterprises to acquire more advanced shoemaking technology. In addition, the prospect of Vietnam's entry into TPP will provide a good opportunity for the development of the footwear industry in Vietnam.

However, for example, the country Spin clothing The bottleneck of the development of the industry is the same. Vietnam's footwear industry also suffers from the lack of raw materials. It is understood that at present, Vietnam's domestic leather factory can only meet the market demand of 20-30%, which means that large quantities of raw materials need to be imported to produce. It is understood that in the first 10 months of this year, Vietnam imported 3 billion 90 million yuan of textile and footwear raw materials, an increase of 19.43% over the same period last year.

　　 Vietnam footwear industry's future outlook: technology modernization is a trend

Vietnam's footwear industry uses a very low proportion of machinery, and shoemaker makes a lot of labor. Sewing machines and cutting machines are all operated manually. At present, domestic manufacturers are facing stringent quality standards for buyers of shoes from European and American markets. Therefore, Vietnam's domestic shoe enterprises have begun to consider the application of modern technology in the production management process to reduce risks.

Vietnam plans to adopt new equipment and technology, strengthen training and promote trade so as to promote the modernization of shoemaking industry. In a recent report on "Vietnam's footwear industry outlook 2017", an analyst described Vietnam's shoe industry as having benefited from rapid growth in exports in recent years. The growth of shoe exports in 2012 increased by more than 10% over the previous year. And shoe production is expected to increase by 8% in 2013-2017 years.

According to the forecast of the analysis report, Vietnam? The shoe market is mainly driven by men's shoes, women's shoes rank second, and children's shoes rank third. The report also contains a forecast of the end user segmentation and price range for the footwear industry in 2017. The report focuses on the trend of Vietnam's footwear market, for example, technological upgrading will help the development of the industry and increase production of raw materials and employment opportunities in Vietnam.