São Paulo – 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 (Abicalçados). Saudi Arabia was the 10th leading buyer and imported US$ 14.7 million worth of Brazilian shoes year-to-date through July this year. In the same period of 2013 revenues stood at US$ 9.8 million.
The other Arab country on the list of top 20 foreign destinations for Brazilian shoes, the United Arab Emirates, has also stepped up its purchases year-to-date through July, by 6.3%. Imports stood at US$ 10.8 million, as against US$ 10.1 million in the same period of 2013. The Emirates imported 975.700 pairs. Saudi Arabia imported 1.4 million pairs.
Whereas sales to the two Arab countries increased, overall exports declined, by 3.1% year-to-date through July. Revenues stood at US$ 608.7 million and 71.9 million pairs were sold. In July alone, exports declined by 6.3% to US$ 86.3 million and 8.24 million pairs.
According to Abicalçados, 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 Abicalçados chairman Heitor Klein.
*Translated by Gabriel Pomerancblum
