Canada’s footwear Export market
Canada is Vietnam’s largest export market among its current 80 export markets. One of the most exported products is footwear.
Let’s take a look at World Courier in terms of exporting footwear to Canada.
An Overview of Canada
Canada is a developed country and one of the wealthiest in the world. With the world’s ninth greatest per capita income. The Human Development Index is ranked 11th. In worldwide comparisons, Canada also rates among the highest. Education, government openness, civil freedoms, quality of life, and economic freedom are among them.
The present state of Canadian exports
Vietnam’s exports to Canada account for a sizable share of the country’s total export turnover. 2021 contributes 1.3% of the total. The first eight months of 2022 accounted for 1.8%, ranking tenth among Vietnam’s 80 major export markets.
There are many goods exported to Canada. Ten significant products earned more than $100 million USD. Textiles, phones and components, footwear, computers, electronic items and components, electronics, seafood, and modes of transportation are the top exports. Nineteen of these 26 key products increased in comparison to the same period last year. There are five things with significant growth (more than 100 million USD). It includes seafood, textiles, footwear, computers, electrical products, and components, as well as phones and components.
The trade surplus with Canada helps to improve the balance of trade and the balance of payments. Furthermore, it maintains national financial security through foreign exchange reserves, lowering pressure on the VND/USD exchange rate. As a result, Vietnam’s economic growth has exceeded its target.
Outlook for the footwear industry when exporting to Canada
The Footwear Market in Canada
Canada has a big market for both the manufacturing and consumption of leather and footwear. Canada imports approximately 2-2.5 billion USD every year. The leather and footwear consumer market in Canada is worth around $6 billion USD. It is expected to rise to 7-8 billion in the next years. The average Canadian couple spends $624 on shoes each year. Each Canadian buys an average of 3.1 pairs per year, and more than half of Canadians buy new sneakers every year. As a result, Canada is placed in the top 5 of the world’s largest footwear consumer markets and in the top 13 in terms of market size.
Competitors in the Vietnamese footwear export market
The footwear import market in Canada is highly concentrated. Canada has ten major trading partners with a combined market share of more than 90%. China, Vietnam, Italy, Cambodia, Indonesia, the United States, Portugal, Bangladesh, India, and Spain were the top 10 footwear export partners to Canada in 2018. China accounted for 45% of Canada’s imported footwear market share in 2018. Meanwhile, Vietnam was rated second, accounting for only 19% of the total. Vietnam has successfully occupied more market share since the CPTPP, with a current rate of 25%.
Business solutions for exporting products
Vietnam’s own brand products should target young people with low-to-middle incomes. Vietnamese businesses must actively participate in international trade shows and exhibitions. This is an opportunity to work with wholesalers directly to locate outsourcing orders. There is also the possibility of increasing engagement in the fashion footwear, beach footwear, children’s footwear, and home footwear segments… Furthermore, specialization in categories can be considered. Special footwear, protective footwear, and industrial uniform shoes are all examples of industrial uniform shoes. Since then, the company has established its own prestigious market and brand. Furthermore, avoiding reliance on outsourcing orders and partner conditions.
World Courier can deliver shoes to Canada.
Currently, World Courier receives and sends goods to Canada at a favorable rate of only $8 per kilogram. When shipping to Canada, we offer the quickest and most dependable service to the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan, as well as three territories: Northwest Territories, Yukon, and Nunavut.
With this information, you should have a better understanding of the Canadian export market. Furthermore, World Courier will always supply you with the best service when it comes to transporting goods!
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