Huge dip in US demand hurts Brazilian footwear exports
Footwear exports from Brazil between January and August fell 16% in volume and 7% in revenue compared with the same period last year.
Exports totalled 82.28 million pairs, generating $823.15 million.
Haroldo Ferreira, CEO of footwear industry association Abicalçados, said the slowdown in the international economy, high interest rates and slowing demand from the US had impacted the sector.
He added: “We expect some improvement in the last months of the year, but even so we should end 2023 with indices between 6.7% and 9.1% lower than those registered in 2022, in volume.”
Even so, these figures would be higher than the results in 2019.
Argentina is the biggest export market for Brazilian abroad. Between January and August, 10.76 million were shipped there for $168 million, a drop of 8.1% in volume but a 32% increase in revenue compared to the same period last year.
