As a major centre of production for medium to high-end leather footwear, with a particular renown for ladies styles, Spain has not been immune from the current downturn in spending on luxury goods.

The absence of the 'feelgood factor' in the key markets of the USA, Germany and Japan coupled with the weakening of the dollar against the euro meant that during the first six months of 2002, the country's footwear exports declined by 2% on the previous year, to just under Eur1.1 billion, Spanish footwear producers also took a smaller slice of their home market as imports increased their share by nearly 11% to Eur420.6 million. (Source: Federation of Spanish Footwear Industries (FICE)).

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