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Vietnam's footwear exports pick up but still face difficulties

Date：

12 Jul,2023

According to a report in Vietnam's Industry and Trade Newspaper on 14 February 2022, Vietnam's footwear exports have picked up in 2022, with exports reaching US$1.937 billion in January, with enterprises having plenty of orders, which have mostly been extended to the end of the second quarter, and with a high rate of workers arriving at work of more than 80 per cent.

Reports say since the beginning of the year, Nike, Adi and other major brands have expressed their desire to increase production in Vietnam. At present, Vietnam has become Nike's footwear production in the world, accounting for more than 50 per cent of production, which alone provides about 300,000 jobs in Vietnam. In Vietnam's footwear exports, Nike brand exports accounted for 30 per cent. Vietnam is favoured by major sports brands, the main reasons include, Vietnam's labour costs are still competitive, foreign investment in Vietnam's factory system has been very good, the U.S. consumers of "Made in Vietnam" of the growing love.

According to the report, although Vietnam's footwear exports have picked up, but the production and processing enterprises are still facing considerable difficulties, such as high logistics freight prices may lead to some importers to shift orders to areas close to the consumer market, the country's package of supportive policies have not yet been put in place, some processing enterprises are unable to meet the high production standards of major brands, the price of export orders did not increase with the freight rate, and so on.

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