The leather and footwear sector’s exports reached nearly 5 billion USD in the first five months of this year, up 6 percent against the same period last year, according to the Ministry of Industry and
Hanoi (VNA) – The leather and footwear sector’s exports r𒀰eached nearly 5 billion USD in the first five months of this year, up 6 percent against the same period last year, according to the Ministry of Industry and Trade.
In May only, exports of leather and footwear products were valued at 1.15 billion USD, a year-on-year decrease of 0.6 percent.
The production of leather footwear products in May saw an 6.2 percent decline to 19.3 million pairs.
In the January-May period, the sector produced 93.8 million pairs, down 2.9 percent compared to the same period last year.
This year, the sector sets a goal of 17 billion USD in export value, of which 13-13.5 billion USD are from exports of footwear.
Last year, Vietnam gained a high growth rate in export value from the leather and footwear industry at 15 billion USD, an increase of 16 percent year-on-year, according to the Vietnam Leather and Footwear Association (Lefaso). Of the value, 12 billion USD were from footwear.-VNA
Domestic and foreign-invested enterprises (FIEs) in the leather and footwear sector continue to experience impressive growth, ranking Vietnam the second largest global exporter of footwear, radio The Voice of Vietnam (VOV) reported.
Exports of the country's leather and footwear sector have long depended upon foreign direct investment (FDI) businesses, as 77 percent of the total export value came from foreign enterprises.
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Illustrative photo (Source:Internet)
