It’s not just a matter of price: global footwear trade is slowing worldwide, as export figures from the leading producing countries show. Only Vietnam is going against the trend, gaining market share as US importers shift more orders away from China and Brazil. According to APICCAPS, the Portuguese association of footwear and leather goods manufacturers, all major producing countries came under significant pressure in the first five months of 2026. China fell 10.9%, Brazil 15.7% and Turkey 5.3%. Europe also remained in negative territory, Italy included.
Global slowdown
In the first six months of 2026, Portuguese exports fell by 2.1% to €813 million. In Spain (according to the Directorate General of Customs), exports from January to May totaled 75.3 million pairs, worth €1.44 billion. Compared with the same period in 2025, exports declined by 0.4% in volume and 0.5% in value (source: Revista del Calzado). In Italy, exports closed the first half down 2.4% (source: Assocalzaturifici).
Brazilian decline
In Brazil, figures collected by Abicalçados from Ministry of Foreign Trade (Secex) data show that exports in the first eight months of 2026 totaled 62.45 million pairs, generating $541.45 million in revenue. That represents a 7.5% decline in volume and a 16.8% drop in value compared with the same period last year. Abicalçados’ CEO Haroldo Ferreira says the downturn is mainly linked to lower shipments to the US and Argentina. “In the United States, we continue to feel the effects of higher tariffs, while in Argentina there is a decline in consumption and a growing predominance of footwear from Asia, driven by tariff reductions on products from non-Mercosur countries”, Ferreira adds.
Only Vietnam is thriving
If there’s one country thriving, it’s Vietnam. In the first eight months of 2026, exports of shoes and bags rose by 2.4% to $19.54 billion. Footwear exports reached $16.20 billion (+1% compared with the same period last year), while exports of bags, suitcases and umbrellas grew by 12% to $3.34 billion. Vietnam is benefiting from the growth in orders from the US, its main market, which generated revenue of $8 billion. According to data reported by VietnamPlus, the US purchased $6.46 billion worth of footwear and $1.55 billion worth of bags, suitcases and umbrellas.
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