Vietnam posts higher footwear export revenues in first 9 months

Vietnam is estimated to reap footwear export turnovers of more than 2.6 billion U.S. dollars in the first nine months of this year, a year-on-year increase of 21. 5 percent, according to the country's General Statistics Office on Wednesday.

Vietnam is expected to gain footwear export turnovers of 3.3 billion dollars this year, up from over 3 billion dollars last year.

Besides the two biggest markets of the European Union (EU) and the United States, it is boosting footwear export to countries and regions with big purchasing power, including Japan, Canada, China's Hong Kong, South Korea and Australia.

Vietnam is predicted to see average annual growth of 16.7 percent in footwear export earnings in the 2006-2010 period, said the Trade Information Center under the country's Trade Ministry.

It will intensify export of footwear to traditional markets and markets with high potential growth like Indonesia, Malaysia, the Middle East, Africa, South Asia and Russia in a move to reap 6.2-6. 5 billion dollars from exporting the product in 2010.

Vietnam plans to earn over 1 billion dollars in 2010 from shipping footwear to the United States, equal to more than 5 percent of the foreign country's total footwear import turnover.

Vietnam also eyes revenue of over 3.2 billion dollars for footwear exported to the EU in 2010, accounting for more than 7.5 percent of the block's total footwear import turnover in the year, the center said.

Source: Xinhua