Viet Nam occupied over 10 percent of share in the world footwear market for the first time, according to the World Footwear Yearbook 2021.

According to the report, over the recent decade, the market share of Viet Nam rose from 2 percent to 10.2 percent.

Viet Nam exported about 1.2 billion pairs of shoes in 2020, becoming the second largest footwear exporter in the world.

A series of world-famous footwear brands such as Nike, Adidas, Reebok, and Puma have all been outsourced and produced in Viet Nam in large quantities.

The country has exported footwear products to more than 150 markets around the world with key markets in the U.S., the EU, China, Japan, the UK, and others.

The Viet Nam Leather and Footwear Association (LEFASO) announced that Viet Nam earned US$20.78 billion from exporting footwear products in 2021, up 4.6 percent against the previous year. 

In 2022, the footwear exports are expected to growth from 10-15 percent, gaining US$23-25 billion.