According to forecasts made by Vietnam’s Ministry of Industry, the Asian country’s exports to the European Union are likely to top the $10-billion-mark in 2008, boosted largely by continued increases in footwear exports.

Local media reports are citing figures of $10.4 billion for total EU exports for the year, equating to a 13.5% rise compared with 2007.

Footwear ranks amongst one of the main sectors set to account for the gains, as the EU is now the second largest export market for Vietnamese-made shoes, topped only by the USA, with exports estimated to reach a massive $2.7 billion this year. Other sectors likely to boost growth are textiles, seafood and coffee.

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