Vietnam Footwear Exports to US Drop 27% Amid Tariff Impact

Vietnam's footwear exports to the United States experienced a sharp 27% decline in September to $611 million, the steepest drop among all sectors following the imposition of US tariffs, according to customs data. Textile exports also fell by 20%, and shipments of phones and components decreased by 24.38%, reflecting the immediate impact of US trade measures on Vietnam's labor-intensive manufacturing sectors. Despite these sectoral declines, overall exports to the US dipped only 1.5% to $13.7 billion, supported by stable shipments of coffee and machinery. The US remains Vietnam's largest export destination, accounting for nearly one-third of its total exports, which include apparel, electronics, and agricultural products. Vietnam's government anticipates export growth of over 12% for the year and continues negotiations with the US to address trade challenges amid the tariffs. The broader Vietnamese economy showed resilience with an 8.22% GDP growth in Q3 and a trade surplus of $16.8 billion in the first nine months of the year, despite the trade tensions.