Forecast for Vietnam’s shoe and leather sector falls - leatherbiz: Lea Leatherbiz

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Forecast for Vietnam’s shoe and leather sector falls

03/08/2023
The vice-chairman of Vietnam’s Leather, Footwear and Handbag Association (Lefaso) has warned manufacturers they must focus on making their businesses more sustainable or they will be unable to export to Europe once the EU's carbon border adjustment mechanism (CBAM) comes into effect in 2026.

Di?p Thành Ki?t told local press the association expects production to be down in 2023 compared with last year.
 
If production and orders recover in the third quarter, annual export turnover will reach around $25.8 billion, 7.5% lower than last year. 

However, if there is no recovery, export turnover will reach around $24.4 billion, or 14% lower.
 

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