Terrible start to 2016 for Spanish footwear
26/08/2016
From January to June, the total value of Spanish shoe exports was €1.31 billion, compared to 1.41 billion in the same period of 2015.
The first blip was recorded in February of this year when exports fell 6.9%, putting an end to 36 consecutive months of growth. The first half performance of Spanish footwear exports has been consistently strong over the past five years, culminating in record growth of 15.4% in 2015.
Of the top five export destinations, only Italy (+15.9%) and the US (+7.7%) increased their imports of footwear from Spain. France, the country’s most important overseas market, imported 14.7% less footwear than in the first half of 2015. This is the first dip for the country since 2008.
Among the other countries to decrease their footwear imports from Spain were Belgium (-26.7%), Portugal (-12.5%) and the UK (-10.6%). The biggest drop in exports was to Austria, which recorded a decrease of 47.5%.
Image courtesy of Luis Gonzalo.
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