Bags / Shoes & Accessories

According to a report on the website of the Ministry of Planning and Investment of Vietnam on October 28, in the first 10 months of this year, a total of 97,100 companies across Vietnam were delisted.

u3000u3000 Among them, 48,500 companies suspended production and operations, a year-on-year increase of 16%; 35,000 companies stopped production and operations and waited for deconsolidation procedures, a year-on-year increase of 15.7%; 13,600 companies completed dissolution procedures, a year-on-year increase of 0.8%.

u3000u3000 Among the enterprises that have completed the dissolution procedures, there are about 5,000 wholesale and retail and automobile and motorcycle maintenance companies, and more than 1,500 industrial manufacturing companies.

u3000u3000 Vietnam's footwear exports have quadrupled in 10 years

u3000u3000 China is still the world's largest exporter of footwear

u3000u3000 According to the 2021 World Footwear Yearbook, Vietnam has exported 1.23 billion pairs of shoes last year, exceeding the world's total footwear exports by 10% for the first time, an increase of more than 4.4 times.

u3000u3000 Specifically, the world's total footwear exports last year reached 12.1 billion pairs, a year-on-year decrease of 19%, a record low in the past 10 years, of which Vietnam accounted for 10.2% of the world's total footwear exports.

u3000u3000 The new crown pneumonia epidemic has destroyed the international value chain, causing the export rate to drop from 62% in 2019 to 59% in 2020.

u3000u3000Of course, China is still the world's largest exporter of footwear, with an export volume of 7.402 million pairs, accounting for 61.1% of the market share.

u3000u3000 But in the past 10 years, China’s footwear export market share has fallen by 12%, from 73.1% in 2011 to 61.1% in 2020. The reason for the above decline comes from the rise of Vietnam, Indonesia and several other markets.

u3000u3000 It is worth noting that Vietnam has become the largest exporter of canvas shoes (in terms of value), far surpassing China.

u3000u3000 The next countries include Indonesia, which exported 366 million pairs (accounting for 3% market share); Germany 301 million pairs (accounting for 2.5% market share); Turkey 280 million pairs (accounting for 2.3% market share).

u3000u3000 Nike, Adidas, Reebok, Puma and a series of world-renowned footwear brands are all processed and produced in Vietnam.

u3000u3000 Vietnam is the world's second largest exporter of footwear, with an average annual growth rate of 12.1% from 2016 to 2019. Last year, due to the impact of the epidemic, my country's footwear exports fell by 9.1% compared with 2019.

u3000u3000 From 2016 to 2020, my country's footwear exports have grown by an average of 6.4% annually, and the proportion of footwear exports has increased day by day, from 10.3% in 2016 to 13.6% in 2020.

u3000u3000The Ministry of Industry and Commerce affirmed that footwear is one of Vietnam’s main export areas (accounting for about 7% of the country’s total merchandise exports), with an average annual growth rate of 11.2% from 2015 to 2019. Last year, due to the impact of the epidemic, my country's footwear exports fell by 8.3% compared to 2019, reaching 16.79 billion U.S. dollars.

u3000u3000Vietnamese footwear has been exported to more than 150 markets in the world, mainly the United States, the European Union, China, Japan, and the United Kingdom.