Sharp decline in footwear imports
The Retail Import Index revealed that the Volume Index for the FOOTWEAR sector contracted by 56.2% in the first quarter of 2023, followed by -40.3% and registering a drop of 35.1% in the third quarter of the year.
Meanwhile, the Department of Studies of the CNC and the Quant Research consultancy firm detailed that the Unit Value Index grew by 22.3%, 13.5%, and 9.4% in the respective quarters, according to data from the Bureau of Labor Statistics and the National Customs Service.
Regarding the concentration by origin of imported footwear, China was the largest supplier in the third quarter, with a 52.4% share of the total, while Vietnam accounted for 23.7%, and Indonesia for 6.3%, as reported by the CNC.