Footwear exports were estimated to hit 9.53 billion USD in the first seven months of 2020 (Photo: VNA)
Hanoi (VNA) – Footwear exports were estimated to hit 9.53 billion USD in the first seven months of 2020, a year-on-year decline of 7.9 percent, according to the Ministry of Industry and Trade.
The sector is among the hardest hit by the COVID-19 pandemic, along with garment-textile and manufacturing.
Europe is the leading export market of Vietnam’s leather and footwear, yielding nearly 6 billion USD annually and holding a lion’s share of nearly 30 percent.
As the EU-Vietnam Free Trade Agreement (EVFTA) took effect on August 1, footwear exports are expected to re-bounce in the remaining quarters, offsetting losses in the beginning of the year./.
VNA
