Home NEWS Spanish Footwear Exports Experience Slowdown in Second Half of 2023

Spanish Footwear Exports Experience Slowdown in Second Half of 2023

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The Spanish Federation of the Footwear Industry (FICE) has reported a slowdown in the country’s footwear exports during the latter half of 2023. While overall exports for the year showed a modest increase, concerns persist within the industry due to factors such as declining consumption, inflation, and challenging international conditions.

In 2023, Spain’s footwear exports reached €3.26 billion, marking a 6.6% increase compared to the previous year. However, in terms of volume, exports saw a slight decrease of 0.23% year-over-year, amounting to 158.4 million pairs.

Imanol Martínez, the marketing and international business development director at FICE, expressed industry concerns regarding the challenging environment faced by Spanish footwear manufacturers. Martínez highlighted a notable slowdown in the second half of the year, attributing it to factors such as reduced consumer spending and unfavorable macroeconomic and weather conditions.

While the industry experienced a strong start with double-digit value growth in the first half of the year, this momentum was unable to offset the downward trend observed later in the year. Exports grew by 1.7% in volume and 14.4% in value year-over-year in the first half, but saw declines of 2.3% in volume and 0.3% in value year-over-year in the second semester.

The data further revealed a decline in exports to key markets such as France and Germany, while exports to Italy, Portugal, Greece, and Eastern European countries including Poland, Romania, and the Czech Republic showed an increase. Outside the EU, exports witnessed significant declines in the United States, Canada, and Mexico.

Martínez noted the challenges faced in recovering markets such as the UK and various Asian countries including Japan, China, and South Korea.

Spain’s footwear industry, primarily concentrated in the Valencia region, ranks among the top 20 producers globally. Major European economies such as France, Italy, Germany, and neighboring Portugal remain key markets for Spanish footwear exports.

As the Spanish footwear industry navigates through uncertain times, stakeholders continue to monitor market dynamics and seek avenues for sustainable growth and recovery.