World Footwear


Portuguese footwear shows signs of confidence

May 17, 2021 Portugal
Portuguese footwear shows signs of confidence
Most of the enquired companies (86%) say they have orders for at least one month of work. A quarter (33%) have orders guaranteeing production for the next three months. These are some of the findings of APICCAPS latest Business Conditions Survey
According to the Portuguese Footwear Association (APICCAPS), 46% of the footwear companies enquired confirmed that the current production level is higher (17%) or identical (29%) to what is usual for this time of the year.

Good news also come from the fact that only 2% of the companies remain closed, making use of the support provided by the Government.

In the next six months, 81% of the companies do not plan to suspend production. An identical number, 82%, believes that it will not be necessary to make changes to the number of workers.

Even so, for the first time since the pandemic began, there are more companies considering new hires (10%) than those who believe that it will be necessary to reduce their workforce (9%).

The reduction in orders (63% of responses) remains the top concern for Portuguese Footwear companies, now followed by 44% which responded they are also apprehensive with the raising difficulty in supplying raw materials.

“All analyzes are still premature, as we remain dependent on the evolution of the pandemic at global level and the success of the vaccination process. However, all signs indicate that the Portuguese footwear companies have been able to resist and are beginning to reveal the first signs of confidence”, highlights Luís Onofre, President of APICCAPS. For Mr. Onofre, "it is now important to consolidate the results, while we keep for the good expectations regarding some markets, such as the United States, become effective".

World Footwear Business Conditions Survey

Back in March, our experts panel, gathering specialists from all over the world, forecasted a slight recover in footwear consumption during 2021 (+2.8%). Should these forecasts prove accurate, footwear consumption will grow 5.8% in South America, 3.8% in North America, 2% in Europe and Africa and 2.8% in Asia, this year, on average. Pre-pandemic levels for footwear consumption should not be reached before 2023. More information available HERE.

APICCAPS Business Conditions Survey

The survey run in the first week of May by APICCAPS enquired 99 Portuguese footwear companies, responsible for 7.000 jobs and a turnover of 600 million euros.

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