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Vietnam Targets $29 Billion Export Goal as Footwear Sector Grows
According to the National Statistics Office, Vietnam’s leather and footwear sector increased its exports by more than 10% in the first half of 2025. Footwear exports were over $12 billion, up 10.1%, while handbags and related goods brought in nearly $2.2 billion, up 11.6%.
Vietnam is the world’s third-largest producer of leather and footwear, producing 1.4 billion pairs per year, trailing only China and India. It is the second-largest exporter, shipping 1.3 billion pairs globally each year. The business benefits from 16 free trade agreements with major markets, as well as a low-cost workforce earning an average monthly income of $181 to $200.
Despite pricing pressures, growing material costs, and labour issues, the sector generated $26 billion in 2024, representing a 10% rise over the previous year. The sector aims for a 10% growth rate in 2025, with exports of $29 billion.
To meet sustainability regulations in markets like the EU and the US, businesses are transitioning to green production and localising resources. The US remained Vietnam’s largest footwear importer, with exports totalling $8.3 billion, up 15.6%.
