This figure accounts for 8% of the total export turnover of the country. Vietnam is currently the world's second-largest exporter of footwear products and has more than 100 export markets.
Vietnamese footwear and handbags are said to have advantages when it comes to tax incentives. In fact, they'll be 8% to 17% lower in price compared to many other countries once the free trade agreements that Vietnam has signed take effect. However, synchronization in production and supply chains of raw materials are still a big challenge for Vietnam. It's been forecast that Vietnam's footwear and leather exports will continue to increase next year and reach more than 22 billion US dollars.
