Leather, footwear, and handbag exports decrease by US$2 billion during 2020
Nguyen Duc Thuan, chairman of Lefaso, said these represent encouraging results in the context of the complicated developments relating to the novel coronavirus (COVID-19) pandemic due to the industry's export target being forecast to drop by between 17% and 18% compared to 2019.
The Lefaso representative also pointed out that despite enduring a turbulent year, Vietnamese firms have significantly improved their resilience as they have proved their capabilities in research, development, design, and management on digital platforms.
Currently, the majority of supply chains and distributors globally are confident in the research and development capacity of local enterprises, especially their ability to adapt to the impact of the epidemic.
Thuan stated that despite Chinese production capacity making up 50% of global output, the nation’s leather and footwear exports to China increased by 15% for the first time, noting that the northern neighbour currently has to import several products which are produced in the country.
These represent positive signs for 2021, with the leather and footwear sector seeing major local enterprises have export orders for the year ahead.
Furthermore, several foreign manufacturing enterprises located in China have started to shift their production activities to the country, which has an annual supply capacity of between VND20 billion and VND25 billion.
Related News
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export
Increasing consumption demand, steel enterprises have many opportunities
07:43 | 31/12/2024 Import-Export
The Middle East: a promising seafood export market for Vietnam
07:43 | 31/12/2024 Import-Export
Export tax rates of 13 commodity codes to increase to 20% from January 1, 2025
13:46 | 28/12/2024 Regulations
Latest News
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
More News
Fruit and vegetable industry aims for $10 billion in exports by 2030
15:12 | 07/01/2025 Import-Export
GDP grows by over 7 per cent, exceeds target for 2024
15:11 | 07/01/2025 Import-Export
Vietnamese pepper: decline in volume, surge in value
15:10 | 07/01/2025 Import-Export
Việt Nam maintains position as RoK’s third largest trading partner
15:09 | 07/01/2025 Import-Export
Greater efforts to be made for stronger cooperation with European-American market
15:08 | 06/01/2025 Import-Export
Leather, footwear industry aims to gain export growth of 10% in 2025
15:06 | 06/01/2025 Import-Export
Grasping the green transformation trend - A survival opportunity for Vietnamese Enterprises
14:53 | 06/01/2025 Import-Export
Việt Nam to complete database of five domestic manufacturing industries in 2026
20:57 | 05/01/2025 Import-Export
Logistics firms optimistic about growth prospects in 2025: Survey
20:54 | 05/01/2025 Import-Export
Your care
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export