2023 was a challenging year for Brazil’s tanning industry. A year marked by more exported volume compared to 2022, but also one during which revenue dropped 8.3%. Data was collected by CICB, the tanning association of Brazil, on the basis of the elaboration of the Ministry of Industry, Commerce and Services. Overall, leather exports from Brazil in 2023 is worth 1.12 billion US dollars, with volume up 13% in surface amounts and +21.5% in weight, compared to the previous year.
The 2023 of Brazil’s tanning industry
From January to June 2023, exports dropped 15.4% in value compared to the same period of 2022. Yet, there has been a recovery since the last semester which has brought a 0.2% increment in profits, thus leading operators to be hopeful for 2024: inflation should also go down, along with stock. The worst performance came from Italy, with a drop (for the second year in a row) for both volume and value. Brazil’s leather exports to Italy in 2023 amounted to 135.2 million USD, or -33.6% on 2022. Even during a year where restrictions are no longer being applied, consumption slowed in Europe due to inflation and wars.
Market analysis
From the analysis it emerges that China was decisive for the final result of Brazil’s exports in 2023. Beside from being the main trading partner of Brazil, China increased import volume and value. The trend for 2022 was equal to -33%, and at the time it had caused concerns. Meanwhile, the United States imported 20.4% less in value and -9.2% in volume in 2023, while in 2022 they had imported 14.8% more volume and +0.2% in value.
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