Bags / Shoes & Accessories

According to data from the Brazilian Footwear Association (Abical ç ados), driven by the domestic market, the domestic shoe industry production in Brazil is expected to increase by 1% to 1.7% this year compared to 2022, according to Huacheng Import and Export Data Observation.

The Brazilian Footwear Association stated that due to the impact of domestic consumption, it is expected that the total production of Brazilian footwear this year will be between 857 million and 863 million pairs, an increase of 1% to 1.7% compared to last year. However, according to the Huacheng Import and Export Data Observation report, exports increased by 3.6% in 2022, driving the growth of shoe production that year.

Priscilla Link, market information coordinator of the Brazilian Footwear Association, said that with the relaxation of restrictions on the COVID-19, China's return to the international market, and the global prevalence of high inflation, the export of Brazilian footwear products will decline. Therefore, our expectation is that Brazil's footwear production will achieve a positive growth rate of between 1% and 1.7%, which is higher than the expected 0.9% growth of Brazil's GDP this year, as reported by Huacheng Import and Export Data Observation.

According to the 2022 World Footwear Yearbook, Brazil ranks fifth among global shoe producing countries. In 2021, driven by export growth, the Brazilian shoemaking industry began to recover from the COVID-19, but the domestic market was still depressed, Huacheng Import and Export Data Observation reported.