In the first two months of 2024, Brazilian footwear exports suffered a drop of 31.3% in volume and 22.8% in value. The general decline in demand, which is registered throughout the world, as well as the competition from China – which has become more intense especially in Latin American markets – had a harsh effect on Brazilian production. Report by CueroAmerica.

The data comes from the latest report by Abicalçados, the Brazilian Association of the Footwear Industry, Abicalçados. According to the analysis of Haroldo Ferreira, executive president of the entity, “there is a lot of instability and inflation in the main markets and that directly impacts exports.”

The manager also pointed out the role that Asian countries play in this decline in sales abroad: “I think the greatest impact is due to the return of aggressive competition from China in Latin American markets.” In relation to these, Ferreira pointed out that Latin America absorbs 50% of Brazil’s total footwear exports.

Between January and February, Brazil exported 18.38 million pairs worth $169.66 million. This represents a decrease of 31.3% in volume and 22.8% in value. In February alone, exports fell 33.4% in volume and 22.5% in value.

Ferreira also expressed his concern about the economic situation that his partner in Mercosur is going through: “Last year, Argentina had two consecutive semesters of poverty growth. “The effects of the crisis in that country are beginning to be felt in the Brazilian footwear industry.” Argentina is the second most important destination for Brazilian footwear after the United States and in some months last year it became the first.