New growth forecast for the Brazilian footwear industry
The Brazilian Footwear Industries Association (Abicalçados) has revised the footwear sector's growth in production for 2023 to 2.1%, as compared to the previous forecast of 1.7%
Following the improvement recorded in the level of production in May, according to the Brazilian Institute of Geography and Statistics (IBGE) - which was 2.3% higher than the same period of last year -, Abicalçados raised the footwear's industry growth projection in 2023 to 2.1% (to more than 865 million pairs), as compared to the forecast of a 1.7% increase at the beginning of the year.
The Executive President of Abicalçados, Haroldo Ferreira, pointed out that this positive projection is due to the increase seen in the domestic market, which absorbs over 85% of the footwear industry's sales. “At the beginning of the year, we had a projection of 0.5% GDP growth, a forecast that went to 2.4%. With the economy growing, we grow together”, he said.
On the other hand, the downward trajectory of exports is expected to continue until the end of the year. “The projection for footwear exports has not been revised, accounting for a fall in pairs between 6.7% to 9.1%”, he added, emphasising that the return of China to the international markets and the appreciated exchange rate should be decisive for the decrease in international dynamics.
Source and Image Credits: abicalcados.com.br
Related news
Related Events
Related Organizations
-
ABQTIC - Brazilian Association of Leather Industry Chemists and Technicians
-
ABRAMEQ - Brazilian Association of the Machinery and Equipment for the Footwear and Leather Industries
-
ABLAC - Brazilian Association of Artifacts and Footwear Retailers
-
IBTeC - Brazilian Institute of Technology for Leather, Footwear and Artifacts
-
Footwear Consumer 2030
A study reflecting on the main global consumer trends and the key changes for the footwear industry.
-
World Footwear Public Calendar
Click here to subscribe an updated version of the calendar displaying the footwear trade shows.
-
-
-
-
-
Media Partners
Media Partners
-
ARS ARPEL
La Conceria
Schuhkurier
Revista del Calzado