Brazil: Footwear exports increase by 19.3% in first half of 2010
Author: RICHARD SMITH From: http://www.fashionnetasia.com/ View: 7 Time: 2010-07-26 09:32:35
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 Heitor Klein Executive Director of Abicalçados |
After a difficult year for exports in 2009 the Brazilian Footwear Association (Abicalçados) has reported an increase of 19.3% in footwear exports in the first six months of 2010.
Brazilian exporters managed to sell 78.5 million pairs in this period compared to 65.8 million last years. Billings increased by 10.2% to US$748.9 million from January to June. The main destination was the US which imported 22.1 million pairs followed by the UK, Italy and Argentina.
The slow recovery in the world economy is set to continue this year but the IMF has raised its world growth forecast from 4.2% to 4.6% with robust growth expected in Asia. Growth for 2011 was pegged unchanged at 4.3%.
On the other hand growth is the US, Europe and Japan is expected to be sluggish when compared to China (+10.5%) and other developing economies such as Brazil with 7.1% growth predicted.
Based on these figures, especially in Asia, it is reasonable to expect increased export efforts of footwear and other leather finished products being directed at this region as disposable income continues to trickle down to the burgeoning middle classes.
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