Minorcan shoe sector braced for sharp export slump next year

Minorca's shoe export trade, an important facet of the island's economy, is expecting to see a down turn in sales next year because of the global recession. President of the Minorcan Association of Shoe Manufacturers, Angel Mesquida, revealed the negative prognosis yesterday while unveiling a new designer footwear campaign. Exports this year have increased by between 15 and 20 per cent, but according to Mesquida, the expectations for the coming year are far lower. Mesquida said that the first effects of the September 11 attacks were witnessed just days after the tragedy at the Düsseldorf shoe fair where the sector noticed a sharp fall in the number of clients from the United States, a major market for the Minorcan industry, and Asia. Mesquida said that the scene was very similar in Milan and Hong Kong where key US buyers were absent. This year, overseas sales have been worth over 4.000 million pesetas to the Minorcan industry.