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GDP of the footwear sector falls by 7.1% in Mexico

Dec 19, 2016 Mexico
GDP of the footwear sector falls by 7.1% in Mexico
According to local sources, during the current year the Gross Domestic Product (GDP) of the footwear industry registered a drop of 7.1%
Local media is quoting the Chamber of the Footwear Industry in Guanajuato (CICEG)
Although an rise in the production of footwear in the country has been reported, the increase in the costs of inputs such as gasoline and imported raw material caused a reduction in profit margins and with that, the manufacturing GDP of the sector decreased.

According to data by the CICEG, around 260 million pairs were manufactured throughout the country, an increase of about 4%. Of the total, 70% occurred in the state of Guanajuato.

The Chamber is highlighting the importance of maintaining and increasing productive investments in Mexico, namely the Government activity while boosting  investments in the energy sector, promoting the flexibility and competition, promoting better financing conditions, competition and investments.

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