Concern in the footwear sector about the Ukraine-Russia war
Of unpredictable consequences in the economy and in the footwear sector in Spain will be the war between Ukraine and Russia. This was reported by representatives and leaders of manufacturers and suppliers of this industry, given the direct and indirect consequences that they can generate in international trade.
According to sources from AVECAL -Valencian Association of Footwear Entrepreneurs-, in the first eleven months of last year, exports to Russia by Spanish footwear companies amounted to 37.5 million euros, which represented 15% more than the figures registered in the same period of 2020 and the same growth rate compared to January-November 2019, the last year that took place without the presence of the pandemic.
For Ukraine, Spanish footwear exports in 2021 stood at 5.1 million euros, being a market for shoe companies that also represented an upward trend. Thus, compared to 2020, shoe sales had grown by 27% and compared to 2019 by 3%.
Also from AEC -Suppliers of Materials and Components- they expressed similar fears, before probable cancellations of orders.
The increase in prices in general is another of the effects that are feared in the set of these productive sectors. It is forecast that an unprecedented inflationary stampede may occur, seriously affecting the manufacturing and supplier sector of the footwear industry as a result of the imminent increases in electricity, oil, gas and fuels.
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