Productivity decreased in 2023
The Venezuelan footwear industry's production experienced a contraction of six to seven points in 2023 compared to the previous year, according to statements made by the president of CAVECAL, Tony Di Benedetto.
Additionally, the leader listed some reasons for this situation in the sector, such as reduced demand due to low purchasing power, new consumption patterns, scarcity of financing, door-to-door businesses, or imports.
However, local production would benefit from the measure that would eliminate zero tariffs on certain products, Di Benedetto added.