Brazilian footwear exports have made a remarkable jump of 44.4 per cent in the month of July, grossing US $ 84.35 million. Volume wise, the figures stood at 7.9 million pairs.
In the period of Jan-July in current financial year, the footwear exports revenue touched US $ 565 million mark, an increase of 3.6 per cent from prior year. 65 million pairs, volume wise, were exported in the review period, up by 8.2 per cent year-on-year.
According to the Brazilian Footwear Industry Association (Abicalçados), improvement in exports performance is owed to the decisions led by Trump government. Business performance had been quite weaker until June.
President of Abicalçados Haroldo Ferreira said, “US government announced the increase of import duty taxes on Chinese shoes by 10 percentual points, from an average rate of 17.3 per cent to 27.3 per cent.”
More products are on the list for review for import duties revision and buyers have already started looking for alternate destinations for supplies such as Brazil. “We are now the largest footwear exporter outside Asia. Obviously, the trade war will influence the industry,” added Ferrera.
This year, US and UAE emerged as two major market destinations for Brazil footwear. US accounted for US $ 18.52 million in July registering a jump of 79 per cent. Volume shipped reached 757,400, up 96.6 per cent. From January to July, 7 million pairs (+33 per cent) were exported with total revenue of US $ 119,740 million (+70 per cent).
Furthermore, UAE imported 1.3 million pairs year-to-date through July, up 88 per cent against last year clocking US $ 9.1 million with 40.8 per cent jump.
Image Source: sneakerfactory.net