World

Argentine footwear production increased by 14.5% in July

Sep 28, 2023 Argentina

The production of footwear and its components in Argentina grew by 14.5% in July and 3% in the first seven months of 2023, as compared to the same period of last year

According to the latest Manufacturing Industrial Production Index by the National Institute of Statistics and Census of the Republic of Argentina (Indec) and released by the Footwear Industry Chamber (CIC), the production of footwear and its components in Argentina grew 14.5% year-on-year in July. Moreover, between January and July 2023, the production of this segment also showed growth, but in this case of 3% year-over-year.

These figures contrast with the country's manufacturing production, in general, which contracted by 3.9% year-over-year in July and grew by only 0.5% year-over-year from January to July.

The Argentine Confederation of Medium-Sized Companies (CAME) also advanced that in August, retail sales in the footwear and leather goods sectors rose slightly by 0.8% and remained stable in the year-to-date, as compared to the same period of last year. “There were few deliveries of merchandise from suppliers and stores went out to liquidate products early to obtain liquidity”, explained CAME, highlighting that most of the products sold were national due to the drop in the entry of imported footwear.

Argentine Footwear Industry

In 2022 – according to the World Footwear 2023 Yearbook (more information available HERE) – production recorded a substantial increase along with that for imports from countries such as Brazil, Vietnam, China, and Indonesia. Argentina's footwear exports remain minimal and are primarily concentrated in neighbouring countries, specifically Chile and Uruguay.

Source : cueroamerica.info

Image Credits: Benjamin Rascoe on Unplash

Argentina Footwear Footwear Components Manufacturing Production