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Portuguese footwear grows in excess of 24% and «beats» the competition

News - 03 Mar 2011

News Portuguese footwear grows in excess of 24% and «beats» the competition
Portuguese footwear exports grew 24% in the last decade to 1,152 million Euros in 2010.
During this period, Portuguese footwear once again stood out in the Portuguese economy and gained ground from its most direct European competitors, Italy and Spain.
In effect, during the last decade, Italian exports decreased by 1.9% and Spanish exports by 7.3%. Contrary to this, companies with exclusively Portuguese capital grew over 20%, overcame the downturn caused by the direct foreign divestment in Portugal and placed over 95% of their production in a total of 132 countries.

During the last decade, footwear has made a name for itself as the most internalized sector of the Portuguese economy and the one that contributed most positively to the Portuguese trade balance, with an annual net balance of around 700 million Euros.

Growing in 2011
In 2010, footwear exports increased 5.2% to 1296 million Euros. Prospects for the sector indicate a further growth in 2011.

According to the APICCAPS Boletim de Conjuntura (economic trend newsletter), published in collaboration with the Oporto Catholic University, “orders continue to evolve favourably” and in spite of not very favourable macroeconomic prospects for the Portuguese economy and many other European economies, the Portuguese footwear companies “hope to strengthen the business, resulting in a positive impact on employment”. It is also expected that there will be a rise in sale prices in Portugal and abroad. Lastly, the general status of business should remain favourable.