In 2023, the import of footwear with uppers of leather to Vietnam stood at 47.12 million USD. As we look at the forecasted data from 2024 onwards, we see a consistent upward trend. In 2024, imports are expected to reach 49.086 million USD, showing a year-on-year increase of 4.18%. This positive trend continues with anticipated imports of 51.114 million USD in 2025 (4.14% increase), 53.101 million USD in 2026 (3.90% increase), 55.049 million USD in 2027 (3.67% increase), and 56.957 million USD in 2028 (3.46% increase).
Key Observations:
- A consistent year-on-year growth in import value from 2024 to 2028.
- Average annual growth over these five years stands at approximately 3.87% CAGR.
Future Trends to Watch For:
- Potential shifts in international trade agreements that could impact tariffs and import volumes.
- Changes in consumer preferences and demand for leather footwear in Vietnam.
- Economic fluctuations that might affect purchasing power and thereby import values.
- Evolution of domestic footwear production capacity which could influence the reliance on imports.
