Mexico’s Footwear Exports Down
The value of Mexican footwear exports fell by 11.23% during the first seven month of the year compared to the same period in 2016, according to COFOCE - Coordinadora de Fomento al Comercio Exterior de Guanajuato. According to the same source the number of pairs sold abroad in the period declined by 2.4%. A degradation in the average price per pair also took place in the first seven months of the year: $18.56 compares to $ 20.43 in similar period last year.
COFOCE is expecting that the declining trend will continue in the coming months, especially as the result of a weak domestic currency and fluctuations. The performance of the domestic market, however, continues on positive ground, with increases in production and consumption. According to the latest edition of the World Footwear Yearbook, Mexico is one of the top 10 footwear producers in the world with a strong industry heavily concentrated in Guanajuato. Production in 2016 reached 254 million pairs, corresponding to a 1.1% share in world total.