Vietnam, which exported $8.22 billion worth of footwear during the first 10 months of 2014, is expected to account for an estimated 12% of U.S. footwear imports in 2018 versus 10% in 2013. And that percentage could accelerate once the Trans-Pacific Strategic Economic Partnership trade agreement among 12 countries is finalized, according to Matt Priest, president of the Footwear Distributors and Retailers of America.
The Asian country, which is the fourth largest global exporter of footwear, has seen its footwear exports to the US increase at an average rate of 20-21% over the last dozen years. But, in order to advancefutther as a global footwear supplier, Vietnam needs to further train workers, develop a viable footwear supplier industry and improve the sustainability of its footwear, according to Lefaso.
