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Vietnam's exports set for growth

03/01/2025
The Vietnam Leather, Footwear and Handbag Association (Lefaso) has projected that Vietnam's footwear and leather industry will achieve export revenues of $26-27 billion in 2024, reflecting a $3 billion increase from 2023.

Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of Lefaso, stated that Vietnam ranks as the world's third-largest footwear producer and second-largest exporter, following China and India. North America accounted for 41.4% of footwear exports and 47% of handbag exports, making it the top export market, followed by the EU with 29.5% and 25.4%, respectively.

Sixteen key markets, including the US, China, Japan, and the EU, represented over 88.4% of total export turnover. The industry has experienced a strong recovery since late 2023, with major companies securing contracts extending into mid-2025.
 

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