Footwear exports is estimated to hit 9.53 billion USD in the first seven months of 2020.

The sector is among the hardest hit by the COVID-19 pandemic, along with garment-textile and manufacturing.

Europe is the leading export market of Vietnam’s leather and footwear, yielding nearly 6 billion USD annually and holding a lion’s share of nearly 30 percent.

As the EU-Vietnam Free Trade Agreement (EVFTA) took effect on August 1, footwear exports are expected to re-bounce in the remaining quarters, offsetting losses in the beginning of the year.

Source: VNA