Vietnamese footwear exports soar 24.9% in 2010
Vietnam’s footwear exports turnover made $5.07 billion in the fiscal year of 2010, representing a year-on-year rise of 24.9%.
The increase was 10.4% higher than the country’s export target, the country’s Ministry of Planning and Investment announced.
The US remained the single biggest importer of Vietnamese footwear products, followed by the EU, where the UK and Germany lead the list of buyers.
In the first ten months of 2010, Vietnam’s footwear exports to the US earnt $1.1 billion, rising by 33.1% against same period in 2009. This accounted for 28% of total exports.
Exports to the UK stood at $409.6 million, a 10.9% increase and making up 10.1% of the total.
Germany represented $272 million of exports revenue, an increase of 13.2%, accounting for 6.7% of the total.
In November 2010 the Vietnamese government released an ambitious plan for the development of footwear industry to 2020. The industry aims to reach an exports turnover of $9.1 billion by 2015 and $14.5 billion by 2020.
The country’s government has proposed to invest approximately $2.9 billion from both local and foreign sources to achieve the target.
