In 2023, the import of machinery for making or repairing footwear to Viet Nam stood at $155.00 million. The forecasted values for the coming years demonstrate a consistent upward trend. Specifically, for 2024, the value is expected to be $161.64 million, reflecting a year-on-year increase of approximately 4.29%. This growth trend continues through 2025 and beyond, with 2025 showing a further rise to $167.49 million (a 3.62% increase from 2024), 2026 at $173.23 million (a 3.43% increase), 2027 at $178.85 million (a 3.25% increase), and 2028 reaching $184.36 million (a 3.08% increase).
Over the past two years, the variation percentages show a stable growth pattern. The last two years exhibit year-on-year growth rates of 4.29% and 3.62%, indicating robust demand. The compound annual growth rate (CAGR) over the five-year period (2024-2028) stands at approximately 3.53%, showcasing consistent industry expansion.
Future trends to watch for include technological advancements in footwear manufacturing machinery, shifting trade policies, and potential economic fluctuations that could impact import volumes. Maintaining a keen eye on these factors will be crucial for stakeholders in anticipating market dynamics and making informed decisions.
