According to statistics from the Brazilian Footwear Industries Association (Abicalçados), the country exported  7.8 million pairs of shoes and generated 81.3 million US dollars in September 2024, representing a 7% decline in volume and a 3.3% drop in revenue, as compared to the same period in 2023.

Despite the negative figures, these are the smallest declines registered this year, suggesting that the market may be starting to stabilise. In the first nine months of the year, Brazil sold 71.64 million pairs of shoes to international markets, worth 736.1 million US dollars. This represents a decline of 21% in volume and 18.8% in revenue, on a comparable basis to the same period of the previous year.

Abicalçados’ president, Haroldo Ferreira, noted that this downturn had been expected due to last year’s lower comparative base and the slow recovery of US imports, which grew by 4.2% in the first seven months of the year. For September, Ferreira highlighted the export performance in Argentina and the United States, the two main destinations for Brazilian footwear. He predicted that 2024  could end with an overall decline of between 14% and 19%.

Argentina
Argentina surpassed the United States as Brazil’s main footwear destination in September. Exports to Argentina surged to 2.18 million pairs, generating 25.62 million US dollars in revenue. This reflects a 112.5% increase in volume and a 48% increase in value, as compared to September 2023. Despite the recent improvement, exports to Argentina in the first nine months of 2024  remain below expectations, with export volume and revenue down by 23.8% and 16.7%, respectively, as compared to the first nine months of 2023.

United States

In September, Brazil’s exports to the United States totalled 740,470 pairs, valued at 17.22 million US dollars. This represents a 31.1% increase in volume and a 32% rise in value, as compared to September 2023. In the first nine months of the year, however, exports to the US fell by 2.7% in volume and 5.2% in value, as compared to the same period in 2023.

Paraguay

Meanwhile, Paraguay was the third-largest destination for Brazilian footwear exports in September, purchasing 520,400 pairs valued at 4 million US dollars. These figures show a decline of 42% in volume and 24.5% in value, as compared to September 2023. Cumulative exports to Paraguay for the first nine months of the year totalled 6 million pairs, a 21.8% drop in volume and a 14.5% decline in value, as compared to the same period last year.

Brazilian Footwear Industry

According to the World Footwear Yearbook 2024 (more information available HERE), Brazil has one of the largest footwear industries in the world. In 2023, Brazilian footwear exports decreased from the record levels of 2022, primarily due to reduced consumption in the United States.