Footwear: Harmed by inflation, low demand, and informality
The footwear industry finds itself immersed in a context of rising inflation and lower demand from both consumers and traders. To this situation is added the aggravating factor of the growth of informality in the sector and smuggling.
This latter unfair practice has cost formal manufacturers around 35 million pairs annually left unsold. The figure translates to 1.2 trillion Colombian pesos (over US$ 300,000), according to reports by the Colombian Association of Footwear, Leather and its Manufactured Goods Industrialists (ACICAM).
In this regard, according to the union, illegal imports must be subjected to greater scrutiny, while still recognizing the work of the Fiscal and Customs Police and the National Tax and Customs Directorate.