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Footwear exports fell in many markets

Update: August, 28/2020 - 09:00

 

The export turnover of Vietnamese footwear products declined in the first eight months. — Photo cafef.vn

HÀ NỘI — The export turnover of Vietnamese footwear products has sharply decreased, according to data from the General Department of Customs.

The department said this month it was estimated at US$1.305 billion, 17.29 per cent lower than in August last year. In the first eight months of the year, export turnover for footwear of all kinds reached $10.8 billion, 9.46 per cent less than in the same period last year.

According to the department, the two largest markets for local footwear products, the US and the EU, have placed fewer orders.

As the leading market, demand from the US has decreased compared to the previous year. Export turnover of footwear of all kinds from Việt Nam to the US in July topped $496.14 million, up 13.41 per cent compared to July 2019 but total exports of the products to the market reached $3.43 billion in the first seven months, down 8.58 per cent from the same period last year, accounting for 36.1 per cent of the total export turnover of footwear products.

As the second-largest footwear export market, export turnover to the EU reached $303.25 million in July and $2.213 billion in the first seven months, the latter marking a decrease of 32.54 per cent from the same period in 2019.

In the EU, the two markets with export turnover of more than $500 million in Belgium and Germany also reported declines. Export turnover of footwear to Belgium reached $553.87 million, down 17.25 per cent while exports to Germany reached $505.35 million, down 10.36 per cent.

With a footwear export value of more than $500 million, Japan’s imported turnover of local footwear products decreased by 2.05 per cent to stay at $551.74 million in the first seven months.

Exports to China, the third-largest export market of footwear products, have been increasing. Last month, it reached more than $198.9 million, up 29.39 per cent compared to July 2019, while exports hit $1.14 billion in the first seven months, up 18.85 per cent compared to the same period last year.

Also in the EU, however, there was still some good growing markets such as Turkey with 36.07 per cent, Poland with 61.51 per cent and Sweden increased by 9.09 per cent, Switzerland with 2.35 per cent and Slovakia with 1.02 per cent.

Also according to the department, footwear exports of foreign-invested enterprises (FDI) reached $988.21 million last month, down 18.65 per cent compared to July last year. In the first seven months of this year, the footwear export turnover of FDI enterprises reached $7.24 billion, accounting for nearly 70 per cent of the total export turnover of this commodity group of the country. Compared to the first seven months of 2029, it was a reduction of 8.45 per cent. — VNS

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