Footwear, leather bag exports to fetch US$8.5 billion

Footwear exports alone may reach US$7.5 billion, and the remainder come from the export of handbags and other leather products, according to the Vietnam Leather & Footwear Association (LEFASO).

LEFASO reported that the sector has achieved steady growth over the past 11 months. However, the number of orders businesses have received from importers has fallen 25-30 percent year on year.

Many footwear makers are concerned about the export growth due to rising input costs that affect their production plans.

They have adjusted production, cut costs, increased product quality, and even accepted breakeven to maintain orders.

Some businesses have exported their products to Asian and South American markets, while others have established workshops overseas to take advantage of low labour costs there./.