In 2020, production and sales of the footwear industry in Colombia were down by over 30%. According to the ACICAM “these negative figures are mainly due to the closure of plants during the emergency declared by the pandemic and the high inventories that companies managed, as a result of the drop in sales. In 2020, household consumption suffered a fall of 25.2% compared to 2019. This is explained by factors such as the confinement, the increase in unemployment that led to a fall in personal income and economic uncertainty caused by Covid-19”.

Companies manufacturing footwear report there are difficulties in obtaining essential raw materials, such as leather and synthetic materials. This is attributed to a “shortage of supply in the international market, which has generated a rise in the prices of these components”. The footwear sector is also facing a drop in consumption, leaving companies with low cash flow.