The bitter taste of Brazil’s footwear industry in 2018: losing 10% of its exports. Recovery signs in January of 2019

Just as Portugal and Spain, Brazil’s footwear lived a challenging 2018. Based on data published by the industry’s reference association, Abicalçados, export fell 10.8% in volume and 10.5% in value, in comparison to 2017: 113.7 million pairs were sold abroad, for a value of 976 million USD. According to Abicalçados’ ceo, Heitor Klein, certain external factors were responsible for the difficulties, such as the variation of exchange rates during the uncertain period surrounding the elections, the interest rates’ increase in the United States, and the strike of the transportation workers in May/June 2017. Klein foresees an improvement in 2019, most of all for the expected increase of purchases from the United States, which is finding a substitute for China’s production lines, due to the trade war currently happening. The recovery being discussed was already felt on the last month of 2018. Klein’s forecasts were proven right by January 2019’s data, months in which export flew 33.4% in volume and 23% in value, in comparison to January 2018.

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