Spanish footwear exports have benefited from high inflation, according to the latest results from the General Directorate of Customs, writes ILM.

In the first four months of 2023, Spanish footwear exports totalled 56.1 million pairs, an increase of 2.3%, and €1.15 billion, up by 17.4%.

In terms of value, the main destinations were France (with an increase of 19.9% year-on-year), Italy (up by 36.3%), Germany (up by 9.1%), Portugal (up by 19.7%) and the U.S. (down by 5%). The average price of footwear exported in this period was €20.60 per pair.

Reportedly, high inflation following the Russian invasion of Ukraine has benefited Spanish footwear exports, though volume growth is moderate. Compared to the same period in 2019, footwear exports are down by 4.6% in volume and up by 16% in value.

From January through to April 2023, footwear imports to Spain totalled 115.2 million pairs and €1.52 billion, up by 4.9% and 22.6% respectively. The main sources for footwear were China (up by 12.2%), Vietnam (up by 38.2%), Italy (up by 31.4%), France (up by 52%) and Indonesia (up by 38.6%).

The average price of imported footwear was €13.20. Against the same period in 2019, footwear imports are down by 4.7% in volume and up by 37.7% in value.