Vietnam remains biggest manufacturer of Nike products

Vietnam was Nike’s biggest manufacturer for the second fiscal year running, according to the American athletic footwear and apparel corporation’s report for fiscal year 2024 ending May.

Nike’s contract manufacturers operate 96 finished goods footwear factories in 11 countries. Vietnam accounted for 50% of total Nike brand footwear, followed by China and Indonesia with 27% and 18%, respectively.

Vietnam’s portion was unchanged from fiscal year 2023, the report said.

For apparel, Nike’s contract manufacturers operated 291 finished goods factories in 31 countries. Factories in Vietnam produced 28% of the total, the biggest figure among all the nations. Other leading apparel manufacturers for Nike were China and Cambodia with 16% and 15%, respectively.

Vietnam’s figure fell from 29% in fiscal year 2023.

Footwear and apparel are key export products for Vietnam. The country’s total exports rose 15.7% year-on-year to $226.98 billion during January-July 2024, up 14.5% from January-June.

Footwear accounted for $12.92 billion, up 10.1% year-on-year. It was the fifth-biggest figure behind electronics, computers and components; phones and components; machinery and equipment; and apparel.

Apparel came in fourth with $19.87 billion, up 4.2% year-on-year.