Brazilian footwear industry “in crisis”
13/08/2014
Export earnings in the January-July 2014 period were $608.7 million.
President of footwear industry association Abicalçados, Heitor Klein, has said the industry in Brazil is showing signs of being “in crisis”.
In comments to local media, Mr Klein said a recent increase in the value of the dollar compared to the Brazilian real ought to have helped Brazilian shoe companies’ export performance. “The fact that it hasn’t is symptomatic of a sector in crisis,” he said.
Mr Klein explained that the Brazilian shoe sector is struggling badly because of “the loss of its second-biggest market (after the US), Argentina”, and because of ongoing increases in production costs.
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