Export of umbrellas, suitcases, bags, hats has many opportunities to recover

Vietnam's exports of suitcases, bags, hats and umbrellas are expected to increase again in the coming time when demand from the EU and the US recovers.

The Center for Industry and Trade Information (Ministry of Industry and Trade) forecasts that the export of suitcases, bags, hats and umbrellas will increase again when world demand recovers, especially to the EU and EU markets. America.

Accordingly, the promotion of the Covid-19 vaccination campaign throughout the EU has created a good passport so that people in this region can travel freely between countries. As a result, the tourism industry will grow again, leading to an increase in demand for these items.

Similarly, exports of suitcases, bags, hats, umbrellas and umbrellas from Vietnam to the US will continue to increase in the coming time. The reason is that the demand for this product in the US is increasing, plus Vietnam's production and export activities are recovering after a period of hiatus.

Currently, the EU and the US are the two main export markets for Vietnam's suitcases, bags, hats and umbrellas, accounting for 65.8% of the total turnover. In which, the export of this group of goods to the EU market in the first 9 months of the year reached more than 489 million USD, down 9.7% over the same period in 2020. In contrast, exports to the US in the same period increased by 4.5%.

Vietnam is the world's third largest exporter of suitcases, bags, hats and umbrellas after China and the EU. This group of goods is classified in the group with export turnover of billion USD of Vietnam, accounting for about 1.1 - 1.8% of the total export turnover.

However, the exports of this group have fluctuated sharply in recent years, especially the impact of Covid-19 in the past two years. However, in the coming time, Vietnam can expand its market share of suitcases, bags, hats, umbrellas and umbrellas in the EU thanks to the benefits from the EVFTA Agreement.

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