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Downward trend continues for Brazilian footwear exports

Oct 9, 2018 Brazil
Downward trend continues for Brazilian footwear exports
According to Abicalçados, the Brazilian Shoe Manufacturers Association, in September 9.7 million pairs were sent abroad for 71.6 million US dollars, down by 14% in volume and 26% in value, representing another month of declining exports
In the first nine months of 2018, Brazilian footwear sales to the external markets totaled 78.9 million pairs and total revenue of 700 million US dollars, down by, respectively, 11% and 12% compared to similar period in 2017.

Abicalçados Executive President Heitor Klein points out the impact of currency fluctuations: “If an stronger US dollar favors Brazilian footwear exports, that effect is weakened by the devaluation of the buyer’s local currency", he commented, highlighting that in many important destination countries for Brazilian footwear, the local currencies have lost even more value than the Brazilian Real.

In the first nine months of the year, Argentina continued to lead the ranking of the main buyers of Brazilian footwear. Exports of Brazilian footwear to the neighboring country increased by 13% in volume: 9.4 million pairs were shipped to Argentina, which generated 115 million US dollars (+16% compared to similar period in 2017). However, exports to Argentina, which were growing in the first half of the year, added up to a 54% drop in the last two months, in comparison with similar period in 2017, reflecting the devaluation of the Argentinian peso and the crisis in the country.

The second destination continues to be the United States, which imported 6.5 million pairs for 108.8 million US dollars in the first nine months of the year, down by 14% and 22% in comparison with the same period of 2017.

France remains in third place among the main destinations of Brazilian footwear abroad. In the period under analysis 5.3 million pairs were shipped to the European country, which generated 43.4 million US dollars, up by 38% and 7% compared to the month eight last year.

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