YTD shoe component exports grow 23.4%, with strong increase in sales to Latin America

Supply difficulties and higher freight costs, especially for imports from Asia, have made big players in Latin America look to Brazil for components for their shoe production. Data prepared by ASSINTECAL (the Brazilian association of leather, footwear, and goods components companies) show that in January and October of this year, sector exports generated US$ 230.14 million, an increase of 12.4% over the same period last year and 0.7% in relation to the same interval of 2019.

ASSINTECAL’s International Market Manager, Luiz Ribas Júnior, points out that exports to Latin American countries have been driving the general data. “Of the top ten destinations, seven are in Latin America. The rise in imports from these countries is also greater, increasing 44% compared to the same period last year”, he assesses. He noted that there is a general problem of lack of raw material in Latin America and a spike in prices to import containers from Asia.

See below a comparison of Brazilian footwear component exports. Data are from DataLiner:

Brazilian Footwear Component Exports (HS 6406) | Jan to Sept 2020-2021 | WTMT

Source: DataLiner (click here to request a demo)

The main destinations for Brazilian components for the manufacture of shoes – uppers, synthetic laminates, matrices, soles, insoles, chemical products, etc. – are China (US$ 70.9 million, an increase of 9.8% compared to 2020), Argentina (US$36.3 million, a 40% increase), Mexico (US$9.57 million, a 31.6% increase) and Paraguay (US$9.55 million, a 43% increase).

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