The Vietnam Leather and Footwear Association (Lefaso) has set a target of $14 billion for the country's global footwear exports in 2015. According to the Vietnam Customs, the country's footwear exports reached an estimated $10.22 billion in 2014, Fob (Free on Board) at Vietnam's ports, representing a 21.6 percent increase as compared to 2013.
Footwear exports last year made up 6.8 percent of Vietnam's total exports. Sporting goods giants like Nike, Adidas and Puma are mentioned as having transferred import orders from China to Vietnam and Bangladesh, with the purpose of reducing the risk of investment in China.
Lefaso said its export targets for 2015 could be reached via the probable increase in orders from major international brands, but oberservers wonder whether the industry will be able to cope with a growing shortage of labor.
The free trade agreements currently under negotiation with the European union and the U.S. should attract more investment and boost exports.
Vietnam was ranked as the second largest exporter of footwear in the world in the 2014 edition of the World Footwear Yearbook, with 4.5 percent of the total exports in volume.
