Footwear export from Brazil to Saudi Arabia increased 50%Staff writer ▼ | August 15, 2014
Revenues from Brazilian footwear exports to Saudi Arabia were up 50.2% year-to-date through July this year from the same period last year, according to the Brazilian Footwear Industry Association (Abicalcados).
Explosive growth Saudi Arabia imported 1.4 million pairs
Overall Brazilian exports declined, by 3.1% year-to-date through July. Revenues stood at $608.7 million and 71.9 million pairs were sold. In July alone, exports declined by 6.3% to $86.3 million and 8.24 million pairs.
According to Abicalcados, the scenario could be worse if not for the United States market rebound, with imports were up 8.5% July on July. "The conditions are detracting from competitiveness. Although the US dollar price is gradually rising in relation to Brazil’s real, we have failed to improve our results, a sign of a crisis-ridden industry, seriously hit by the loss of its main market, Argentina, and burdened by ever-higher production costs," said Abicalcados chairman Heitor Klein. ■