Around 42% of the total shoes imported had a price tag of less than a dollar, below the reference price established by Dian (the Colombian revenue and customs) but still entered the country. According to ACICAM (the Colombian Association of Footwear, Leather and Leather Goods), this will affect the national footwear industry as it had a rough start this year with production down 7.1% and a total shoe sales decrease of only 1.1% during the same period.

“There has been an increase of 25% in production costs in the last twelve months but, with the fierce international competition, the value added has been practically inexistent to the consumer, narrowing profitable margins”, explains Luis Gustavo Flórez, ACICAM’s president.

Even though there has been no embargo, the association remains confident that production and sales figures will reverse the situation in the second half of 2015 as the performance is usually better.

Source: El Colombiano