Report suggests dip in Mexican exports
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According to Guanajuato-based agency for external trade promotion Coordinadora de Fomento al Comercio Exterior de Guanajuato (COFOCE), the value of footwear exports from Mexico fell by 11.23 per cent during the first seven months of this year when compared to the same period in 2016. The COFOCE also reported that the number of pairs of Mexican footwear sold outside the country during this period declined by 2.4 per cent. In addition, the average price per pair dropped from $20.43 to $18.56.
The agency has announced that it expects this downward trend to continue in the coming months, particularly because of the weak domestic currency and fluctuations in currency rates. Nevertheless, the COFOCE stresses that performance of the domestic market continues to be positive, with increases reported from some Mexican shoemakers in both production and consumption.
SATRA’s World Footwear Markets highlights that Mexico has a fairly large and diverse footwear industry and strong skills in making women’s leather shoes and leather boots. Generally, production has dipped
over recent years and imports have risen considerably, whereas any previous rise in exports had been small by comparison. Although many local consumers perceive Mexican footwear to be of better quality than imports and are prepared to pay more, the battle against cheaper imports is one that Mexico continues to struggle with.
This article was originally published on page 2 of the November 2017 issue of SATRA Bulletin.