Sharp increase in Brazilian footwear imports
According to Haroldo Ferreira, Executive President of ABICALÇADOS (Brazilian Footwear Industries Association), "over the past two months, there has been a gradual increase in Argentina's international reserves, which were 42% higher in November compared to the same month last year." Another factor contributing to the improvement in Brazil's exports to Argentina is the liberal orientation of Milei's government, which has removed many import barriers.
"In October, the Central Bank of Argentina (BCRA) reduced the timeframe for accessing the Free Foreign Exchange Market (MLC) to 30 days after customs clearance of goods, facilitating import flows (previously, the timeline extended to 60 days for full payment releases)," Ferreira explained.
After the United States, Argentina remains the second-largest importer of Brazilian footwear. In November, it imported 1.27 million pairs valued at US$ 15.5 million, representing a 67.2% increase in volume and a 15.4% rise in revenue compared to the same month in 2023.
Year-to-date, Argentine buyers imported 12 million pairs valued at US$ 193 million, a decrease of 12% and 10.8%, respectively, compared to the same period in 2023.
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