The chosen period of 6 years, starts with the world financial recession year, the productivity and market demand for all industries were negatively affected by the lowering employment rate. Market size of all sectors decreased, especially luxury market needs. For Italy’s footwear manufacturing, both exports of luxury designed shoes and local footwear productivity significantly shrank (refer Appendix 11)
The imports were increasing until 2011, domestic market needs for local products kept decreasing, and both unemployment rate and GDP were negatively affected. Though under the decreasing trend of productivity of local producers, the total demand for Italy’s footwear market was increasing which benefits the lower cost of imports (refer Appendix 9).
A global economic downturn saw consumer spending on footwear slow in 2009, and continue along in 2010. The global footwear manufacturing industry increased by 0.8% in 2010 to $131.3 billion.
Demand for mid to high priced European manufactured footwear is projected to fall as consumers tighten their belts in facing negative economic conditions. Demand for developing countries, such as China, India, Russia and parts of the Middle East, for high-end and mid-priced manufactured footwear was to be flat…show more content… These countries are two of the most important foreign markets for Italian Footwear not only in terms of average export price, but also in terms of growth potential.
As to Italian footwear imports, the performance in 2013 was the same level of 2012, with 303 pairs of shoes bought to the rest of the world, worth 3834 million euros (compared to 302 million pairs at 3835 million euros in 2012). Italy buys 20% of its imported footwear from China, at an average price of 6.27 euro. Romania (12%), Belgium and Netherlands (8% each), France and Vietnam (6% each) follow as the main