The second largest shoe manufacturer in the world India recorded a decline in exports in the first half of 2017. A drop in sales occurred in all major sales markets, writes worldfootwear.com
According to the latest edition of the World Footwear Yearbook, India became the second largest shoe producer in the world in 2016, 2,26 billion pairs were produced in that country in 2016, 236 million pairs were sent for export (1,7 %). In terms of shoe sales abroad, India is the sixth exporter of shoes. The country is more focused on the production of shoes for the domestic market, which has 1,3 billion people.
In the first half of 2017, Indian exports declined by 2,8%, reaching only 97% of sales in the same period in 2016 ($ 1,20 billion compared to $ 1,23 billion, respectively). About 31% of the volume of Indian shoe exports falls on two countries - the USA (16%) and the UK (15%). In the first half of the year, both countries reduced their shoe purchases in India by 12%.
Reduced supplies of Indian shoes occur in all major markets. Out of ten countries of the leading importers of footwear from India, the supply volume increased only to Poland and Belgium. But these countries have insignificant shares in the country's total exports - 5% and 3%, respectively.
Basically, India exports genuine leather shoes, whose share in the total export volume is 73%, but in the first six months of 2017, the export of leather shoes decreased by 8,2%, which led to a decrease in overall exports.