Hope for Vietnam’s billion-dollar export industry at year’s end

Although the market has not fully recovered, footwear and handbags export turnover is expected to return to growth in the fourth quarter of this year during the year-end shopping rush in European and American countries.

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A report from the Ministry of Industry and Trade said after a sharp decline in the second quarter, orders of businesses in the footwear industry started gradually recovering from the third quarter of this year.

After more than two months implementing the EU-Việt Nam Free Trade Agreement (EVFTA), footwear is a commodity in the list of Vietnam’s exports with positive changes.

Leather footwear production is estimated at 31 million pairs last month, up 5.3 percent month-on-month and 11.8 percent year-on-year.

Footwear export turnover of all kinds in 10 months was estimated at 13.38 billion USD, down 9.9 percent over the same period last year.

Experts also advised businesses to link with customers to form a production chain, meeting rules of origin as committed in free trade deals./.

VNA