18 September 2023

Brazil - USA: 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.
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