Vietnam: Steady growth expected for 2020
05/02/2020
Turnover in 2019 hit $22 billion, which was an increase of 12.2% from 2018. Lefaso pointed to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect in early 2019, as helping the sector expand into markets such as Mexico, Canada, Chile and Peru.
As a result, Lefaso said, Vietnam’s footwear products have reached into more than 100 countries, including 70 nations where export turnover stands at more than $1 million. These factors are behind Lefaso’s prediction that 2020 will see the sector’s average industrial production index rise by 11%, with an export turnover of $24 billion.
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