Vietnam’s Footwear Exports Aim for US$ 29 Bil in 2025

Strong Growth in the First Nine Months of 2025

Vietnam’s footwear industry continues to show resilience and competitiveness globally.

In the first nine months of 2025, the country’s total footwear export value reached USD 17.79 billion, a 7.4% increase compared to the same period in 2024.

This performance solidifies Vietnam’s position as the second-largest footwear exporter worldwide, accounting for an estimated 10% of global export volume. Footwear is now Vietnam’s fifth-largest export category, after mobile phones, computers, machinery, and textiles & garments, contributing 6.4% of the country’s total export revenue.

Similar to the textile and garment industry, leather and footwear companies are seeing an increase in orders toward the end of the year as global retailers prepare for the holiday season. With this positive trend, the industry is expected to reach USD 29 billion in export value for 2025, marking a 10% year-on-year growth.

The export chart shows a consistent upward trajectory in early 2025, with peak export turnover in April and the lowest in February due to the Lunar New Year holiday.

• September 2025 export turnover: USD 1.70 billion,
  ▸ down 14.4% from August 2025 but
  ▸ up 9.1% compared to September 2024.

This monthly trend reflects the seasonal production cycles of global footwear supply chains, with large brands concentrating orders in the first half of the year to meet holiday demand.

Global Markets: The U.S. and EU Dominate

Vietnam’s footwear exports are primarily concentrated in the Americas, Europe, and Asia. In September 2025, the United States remained the largest market, accounting for 37.6% of Vietnam’s total footwear exports, followed by the European Union (24.6%).

Year-on-year growth was particularly strong:

• U.S.: up 4.5% in September 2025, and 8.2% in the first nine months.
• EU: up 22.7% in September and 9.2% year-to-date.

Other high-growth markets include:

• Japan (+11.3%), UK (+9.9%), Mexico (+48.6%), Canada (+21.3%), and Australia (+13.4%).

Top Markets by 9M 2025 Export Value (Thousand USD)

Top Markets by 9M 2025 Export Value (Thousand USD)

✅ Notably, markets like China and South Korea recorded declines, highlighting the need for diversification. Meanwhile, strong growth in Mexico, Canada, and several EU countries underscores shifting demand patterns.

Competitive Advantages Driving Growth

Vietnam’s footwear sector benefits from a combination of strategic trade agreements, cost competitiveness, and integration with global brands.

• 16 Free Trade Agreements (FTAs) give Vietnamese footwear exporters preferential tariff access to key markets, helping lower prices and increase market share.
• Labor costs in Vietnam stay relatively low allowing companies to remain competitive with other manufacturing centers.
• The industry has become deeply embedded in global supply chains, serving as a major production hub for leading brands like Nike. About 50% of Nike’s worldwide production, amounting to 600 million pairs each year, is made in Vietnam.

Top Exporters: Leading the Industry

The sector is dominated by foreign-invested enterprises (FDI), primarily from South Korea and Taiwan, concentrated in industrial hubs like Dong Nai, Binh Duong, and Ho Chi Minh City.

Top 20 Footwear Exporting Companies – 9M 2025

(Unit: Thousand USD)

✅ TAE KWANG VINA, POUYUEN, and CHANG SHIN continue to dominate, with combined exports exceeding USD 2.3 billion in nine months.

To achieve the USD 29 billion export target for 2025, the industry is undergoing strategic transformation:

• Green, circular production models are being prioritized to meet international sustainability standards.
• Localization of raw materials and components is being accelerated to reduce import dependency and enhance supply chain resilience.
• Exporters are expanding into new, high-consumption markets such as the Middle East, Arab countries, and Africa, ensuring more balanced and sustainable growth.

Vietnam’s footwear industry has established itself as a global powerhouse, combining strong export performance, cost competitiveness, and integration with leading international brands.

While traditional markets like the U.S. and EU continue to dominate, the diversification of export destinations and the shift toward sustainable production are expected to influence the next phase of growth.

If the current momentum continues, Vietnam’s footwear exports are projected to reach USD 29 billion by the end of 2025, further strengthening its position as one of the world’s leading footwear manufacturing and exporting hubs.