Footwear exports earn $4.18 billion

Vietnam’s export turnover from footwear products in the first eight months of 2011 is estimated at $4.18 billion, a year-on-year increase of 29.2 per cent.

According to the Ministry of Industry and Trade (MoIT), the local footwear sector has enjoyed more favourable conditions since the European Commission (EC) removed the anti-dumping tax of 10 per cent on Vietnamese leather-capped shoes in late March 2011.

These favourable conditions have allowed the sector to already fulfil 74.7 per cent of its yearly export revenue target. Currently, footwear exporters have received many orders and are boosting production to meet increasing demand.

The MoIT asked local businesses to adjust export prices in a more transparent and fair manner to avoid being imposed with anti-dumping taxes by the European Union (EU) and the EC.

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