The export turnover of Vietnamese footwear products declined in the first eight months. (Photo: cafef.vn)
The department said this month it was estimated at 1.305 billion USD, 17.29 percent 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 USD, 9.46 percent 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 Vietnam to the US in July topped 496.14 million USD, up 13.41 percent compared to July 2019 but total exports of the products to the market reached 3.43 billion USD in the first seven months, down 8.58 percent from the same period last year, accounting for 36.1 percent of the total export turnover of footwear products.
As the second-largest footwear export market, export turnover to the EU reached 303.25 million USD in July and 2.213 billion USD in the first seven months, the latter marking a decrease of 32.54 percent from the same period in 2019.
In the EU, the two markets with export turnover of more than 500 million USD in Belgium and Germany also reported declines. Export turnover of footwear to Belgium reached 553.87 million USD, down 17.25 percent while exports to Germany reached 505.35 million USD, down 10.36 percent.
With a footwear export value of more than 500 million USD, Japan's imported turnover of local footwear products decreased by 2.05 percent to stay at 551.74 million USD 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 USD, up 29.39 percent compared to July 2019, while exports hit 1.14 billion USD in the first seven months, up 18.85 percent 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 percent, Poland with 61.51 percent and Sweden increased by 9.09 percent, Switzerland with 2.35 percent and Slovakia with 1.02 percent.
Also according to the department, footwear exports of foreign-invested enterprises (FDI) reached 988.21 million USD last month, down 18.65 percent compared to July last year. In the first seven months of this year, the footwear export turnover of FDI enterprises reached 7.24 billion USD, accounting for nearly 70 percent 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 percent./.