A poor first three months for Brazilian footwear exports has been partially offset by figures from April that show some signs of a recovery. Exports fell by 14% in the first quarter of the current year compared with the same period in 2001, but the following month saw a 5% increase. The figures were released by Abicalcados (the Brazilian Association of Footwear Manufacturers) based on government data.

In the first three months of the year exports were $355 million against $413 million in 2001. According to Abicalcados, the main reasons for the fall were the Argentinean financial crisis, the drop in US consumption (Brazil's main footwear export market) and, to a lesser extent, the devaluation of the dollar against the Real which has had a negative impact on foreign trade.

Exports in April amounted to $128 million, 5% higher than 2001, when exports were $122 million. The boost also represents a 9% rise over the amount exported in March. Despite the rebound in April, however, the first four months of 2002 are still down by 9% compared with 2001.