Bags / Shoes & Accessories

Vietnam's "Customs Online" reported on September 22 that in the first eight months of this year, Vietnam's exports of textiles, leather and footwear continued to grow significantly year-on-year.

According to data from the Vietnam Textile Association, the export value of textiles in the first eight months of this year reached 25.9 billion U.S. dollars, a year-on-year increase of 15.8%. However, due to the impact of the new crown epidemic in August, the export value dropped significantly.

Specifically, the value of textile exports in August fell by 18.7% month-on-month and 5.8% year-on-year.

In terms of footwear, according to data from the Ministry of Industry and Trade of Vietnam, in the first eight months of this year, footwear exports reached US$12.6 billion, a year-on-year increase of 16.2%.

However, in August, the export value of various footwear fell by 38.5% year-on-year.

The above data clearly shows the impact of the recent new crown epidemic on Vietnam's exports of textiles, leather and footwear. More serious difficulties are yet to come, especially human resources difficulties.

From now to the end of the year, when the economy gradually opens up and production activities gradually resume after the epidemic, the cancellation of export orders and the lack of human resources are the most "headache" problems for textile, apparel and footwear export enterprises.

It is expected that production and exports of these industries are unlikely to recover quickly.