World Footwear

Trade

Brazil: footwear exports through September already exceed 2021's total

Oct 7, 2022 Brazil
Brazil: footwear exports through September already exceed 2021's total
In the first nine months of the year, Brazilian footwear exports generated 990.35 million US dollars, surpassing the 900 million US dollars recorded in the full year of 2021
According to Haroldo Ferreira, the Executive President of the Brazilian Footwear Industries Association (Abicalçados), the organization responsible for compiling this data, the sector's exports seem to have largely recovered from the losses caused by the COVID-19 pandemic."On a comparable basis to the same period of 2019, in the pre-pandemic period, we have grown by more than 35% in value. We have also increased the average price per pair, from 7 US dollars to 10.60 US dollars, which shows that we are exporting products with higher added value. It is a good moment for Brazilian exports".

From January to September, the country shipped 107.9 million pairs of shoes, worth 990.35 million US dollars. These figures reflect an increase of 25% and 60% in volume and value, respectively, on a comparable basis to the same period of last year. In September, 10.33 million pairs of shoes were sent abroad, generating 109.45 million US dollars, which indicates a decline of 6% in volume, but a growth of 42%, as compared to 2021's September.

The trend witnessed in these past months was again reinforced. Brazil continues to benefit from the increase in maritime freight costs that prompt Latin American buyers to source closer to their markets, moving out from Asia. Haroldo Ferreira noted that between the ten main destinations for Brazilian footwear, eight are from the same continent.

Main Destinations

The US, as usual, take the lead among the main destinations for yellow and green footwear. In the first nine months of 2022, Brazil shipped 15.3 million pairs of shoes to the US, generating 270.78 million US dollars. These figures show an increase of 51.7% and 77% in volume and value, respectively, on a comparable basis to the same months of the last year.

Despite Argentine's Central Bank's decision to authorize the settlement of imports only after 180 days, Argentina remains the second main destination for Brazilian footwear. The neighbouring country purchased 13.35 million pairs of shoes, worth 145.3 million US dollars, up by 44.8% in volume and 80.3% in value, as compared to the first nine months of 2021.

France came next, buying 5.3 million pairs of shoes between January and September of the current year, at the value of 48.85 million US dollars, which reflects a value growth of 14.6% while the volume rate was flat.


Brazilian Footwear Industry

The World Footwear 2022 Yearbook (more information available here) data indicates that Brazil ranks 5th among footwear producers worldwide. The footwear industry recovered in 2021 from a difficult period in the prior year, encouraged by exports that benefited from increased demand in the USA due to the tariffs imposed on Chinese footwear. Nonetheless, the Brazilian home market is still depressed, and imports were the lowest in a decade.


Image Credits: Davi Costa on Unsplash


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