VIỆT NAM'S FOOTWEAR, BAG EXPORTS TO US TOP $8 BILLION IN EIGHT MONTHS

Exports from Việt Nam's leather and footwear sector reached more than $2.45 billion in August, down 9 per cent from July but up 3 per cent from a year earlier.

Sport shoes are made for export at a factory in Thanh Hoá. — VNA/VNS Photo

HÀ NỘI — Việt Nam's exports of footwear and handbags to the US exceeded US$8 billion in the first eight months of 2026, as the US and EU remained the country's biggest markets despite sluggish growth in footwear shipments.

Exports from Việt Nam's leather and footwear sector reached more than $2.45 billion in August, down 9 per cent from July but up 3 per cent from a year earlier, according to preliminary statistics.

In the first eight months, total exports rose by 2.4 per cent year-on-year to $19.54 billion.

Footwear exports reached an estimated $16.20 billion, up 1 per cent from the same period last year, while exports of handbags, suitcases and umbrellas rose by 12 per cent to $3.34 billion.

The US was the largest market, importing $6.46 billion worth of footwear and $1.55 billion of handbags, suitcases and umbrellas during the period.

The EU was the second-largest market, with exports rising by 4 per cent to nearly $5 billion.

Exports to some smaller EU markets grew strongly, including France, Luxembourg and Denmark, which rose by 10 per cent, 61 per cent and 33 per cent, respectively. Exports to Germany, however, fell by 5 per cent.

Shipments to Japan and China declined, contributing to weaker exports to markets covered by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), despite preferential tariffs under the agreements.

The figures point to a growing reliance on the US and EU markets, while weaker demand in some regional markets underscores the need for exporters to diversify markets and make better use of trade agreements, according to industry assessments.

The foreign-invested sector continued to dominate exports. Its footwear and handbag exports exceeded $15.5 billion in the first eight months, including $13.23 billion in footwear and $2.35 billion in handbags.

This sector accounted for about 80 per cent of the industry's total export turnover last year, when exports reached $22.82 billion, up 17 per cent from 2024.

To meet its full-year export target of $29 billion-30 billion, the sector would need to average more than $2.5 billion in monthly exports during the final four months of 2026. VNS

Source: VNS