A recent report from Vietnam's General Statistics Office has confirmed that the global economic slowdown has hit the leather and footwear industries harder than other areas of the local economy. Last month the Vietnam National Leather and Footwear Corporation revealed that the sector was beginning to feel the effects of the global slump, but the latest indications are that the organisation's export arm has hit just 37 per cent of it annual target, and is 27 per cent lower than the same period last year. Footwear has also been pushed out of its position as the country's third highest export earner.