Footwear exports to the US fell to $64.250 million in October-December 2022 from $89.300 million in July-September 2022. Volatility in the trade has been noticed for the last year and a half. The shipments were valued at $93.565 million in Q2 2022, $88.895 million in Q1 2022, $76.200 million in Q4 2021, and $65.250 million in Q3 2021, according to Fibre2Fashion’s market insight tool TexPro.
Footwear exports from Brazil to the US and Argentina have recorded a sharp fall on a quarter-on-quarter basis in the fourth quarter of 2022. Inflationary pressure and fear of an economic recession have dried up discretionary expenditures around the world. Exports to US were down to $64.250 million and to Argentina to $41.743 million in Q4 2022.
Brazilian shipments to Argentina also declined to $41.743 million in Q4 2022 from $72.367 million in Q3 2022. The trade was valued at $77.368 million in Q2 2022, $52.370 million in Q1 2022, $48.941 million in Q4 2021, and $48.373 million in Q3 2021, as per data obtained from TexPro.
Most countries in the world are facing economic worries related to inflation and recession due to a stronger US dollar and costlier commodities, including crude oil, following supply disruptions resulting from the Russia-Ukraine war.
Fibre2Fashion News Desk (KUL)
