Sri Lanka Footwear Exports Grew Strongly, With Good Results.

Sri Lanka Minister of industry and trade Rishad mentioned in the opening ceremony of the 2016 leather and footwear exhibition that in 2015 Sri Lanka leather and footwear products showed strong growth momentum, with an export volume of US $110 million, of which footwear exports accounted for 80%.

In addition, with the increase in the number of middle income people and the number of women employed, the sales volume of local shoes has also increased significantly.

Indira, President of the Export Development Council, said that Sri Lanka had processed products for many international footwear manufacturers, indicating that Sri Lanka's export of leather and footwear has great potential for development.

According to Indira, 2016

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The exhibition was held on the 5 day of this month at the Bandaranaike Convention Center in Colombo. The exhibition was supported by the Sri Lanka strategic development department, the Export Development Bureau, the Ministry of industry and trade and the leather footwear association. The exhibition has 230 booths, attracting more than 30 international delegations to participate in the exhibition.

As more and more people like sports lifestyle, the demand for casual shoes and sports shoes has accelerated the footwear industry.

The cost of producing sports shoes is far lower than the processing cost of fashionable shoes, and the profits of sports shoes in the international market are as high as 45%. The minister appealed to domestic shoemaking enterprises and exporters to pay great attention to the export market of sports shoes.

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Data show that in 2015, Brazil automobile and motorcycle spare parts retail performance was the worst, retail sales decreased by 19% compared with 2014, followed by clothing and shoes retail sales decreased by 3.5%; third, building materials retail sales fell 2.1%.

In addition, fuel and lubricants retail sales fell by 1%, electronic and computer equipment retail sales fell by 0.9%, while restaurant sales in large supermarkets also fell by 1.1%.

Since 2011, Brazil's economic growth has slowed down significantly, but has not suppressed consumer enthusiasm.

Data show that in 2012, 2013 and 2014, Brazil's retail sales increased by 6.4%, 5.2% and 3.7% respectively.

In the 2008 and 2009 when the global financial crisis broke out, Brazil's retail sales also increased by 13.2% and 6.1% respectively.

According to analysts, the retail sales in Brazil for the first time in 13 years showed negative growth for the first time in over a period of 2015, mainly due to the sluggish economy and high unemployment rate in Brazil, resulting in sharp decline in public incomes, high inflation, high interest rates on banks and a decline in consumer confidence.

On the 8 day, the Brazil Bureau of geographical Statistics announced that Brazil's inflation rate reached 10.67% in 2015, two times the government inflation management target of 4.5%, while the expected inflation rate in the financial market was as high as 10.72%.

To curb inflation, Brazil's central bank raised its benchmark interest rate to 14.25% in July 29, 2015, a record high in 9 years.

Financial markets predict that Brazil's central bank will raise interest rates by 50 basis points again this month, raising the benchmark interest rate to 14.75%, and will increase to 15.25% by the end of 2016, given the heavy inflation pressure in Brazil.