The US Just Sealed a $4 Billion Deal for Vietnam’s Signature Export: A Global Favorite with Two-Thirds of the World’s Approval, Making Vietnam the Second Largest Producer.

According to preliminary statistics from the General Department of Customs, Vietnam’s footwear exports fetched over $2.16 billion in June, a slight dip of 1.1% from the previous month. However, for the first half of the year, the sector achieved a remarkable 10.1% growth rate year-on-year, totaling $11.8 billion.

The United States remains the largest importer of Vietnamese footwear, with a significant year-on-year increase of 13.3%, totaling over $4.3 billion. Notably, in June alone, the US market ramped up its imports from Vietnam by more than 5%.

Beyond being the largest consumer of Vietnamese goods, the US market stands out for its stability and attractiveness, showcasing a diverse range of import demands, from consumer goods to high-tech products. This positive trend is expected to persist in the remaining months of the year if Vietnamese enterprises effectively leverage the advantages offered by free trade agreements and enhance their competitive capabilities.

Following the US, the Netherlands secured the second spot with footwear imports totaling over $888 million, marking a 13.6% increase compared to the first half of 2024. China, the third-largest market, witnessed a decrease of 14.7% year-on-year, totaling nearly $800 million.

At a trade promotion conference organized by the Ministry of Industry and Trade with the Vietnamese trade offices abroad, the footwear industry was identified as one of the key sectors to boost exports amid a volatile global economic landscape. Vietnam currently ranks third in the world in footwear production and second in exports, only after China. This remarkable achievement is a testament to the industry’s three decades of development, characterized by large-scale production capacity, a skilled workforce, and a solid reputation in the global supply chain.

Asia dominates global footwear production, accounting for approximately 87% of the total output (23 billion pairs), with China leading the way at 13 billion pairs, followed by India at 2.6 billion, and Vietnam at over 1.4 billion pairs annually. Notably, Vietnam exports an impressive 90-95% of its total production, a significantly higher ratio compared to other countries that primarily serve their domestic markets.

The footwear industry has effectively leveraged the advantages offered by free trade agreements, particularly with markets in the EVFTA and CPTPP blocs. In 2024, numerous enterprises secured substantial export contracts, and through trade promotion activities, they have successfully expanded into new markets in the Middle East, South America, and Africa, diversifying their global reach.

For 2025, the footwear industry aims to achieve a 10% growth rate compared to 2024, targeting an export turnover of approximately $29 billion.