Vietnam a Top 5 exporter of suitcases, backpacks, handbags

• Jul 23, 2017

With $3.2 billion worth of exports of suitcases, backpacks, and handbags in 2016, Vietnam was among the Top 5 largest exporters in the sector, according to the Leather, Footwear and Handbag Association (LEFASO).

Vietnam ranked fifth among the ten largest exporters of suitcases, backpacks, and handbags the world over, contributing 5.4 per cent to last year’s global supply, according to LEFASO.

The suitcase, backpack, and handbag industry has reported consistent growth of 10-15 per cent over the past five years, according to LEFASO Chairman Nguyen Duc Thuan.

This growth is driven by international fashion brands paying greater attention to the quality of Vietnamese leather products and selecting Vietnam as the site of their manufacturing facilities, Mr. Thuan added.

Other exporters in 2016’s Top 5 included China, Japan, and South Korea. 

Around 2.5 suitcases and handbags were bought around the world last year at a total cost of $300 billion. China held its lead as the top exporter in the industry, accounting for 40.8 per cent of global exports during the year. The US, Hong Kong, and Japan topped the list of global importers, according to LEFASO.

In the first five months of this year, the US was the largest destination of Vietnamese suitcases, backpacks, and handbags, worth $555 million, a 6 per cent increase year-on-year. The EU followed, with $365 million, up 8.2 per cent year-on-year.

Source: http://vneconomictimes.com/article/business/vietnam-a-top-5-exporter-of-suitcases-backpacks-handbags