Portuguese shoe exports stabilized at a level of 20 million pairs worth €331 million during the 1st quarter of 2004, confirming indications that the European market may have touched bottom for the country’s producers. It took in the vast majority of the country’s exports or a total of 18.6 million pairs worth €301 million, led by France and Germany. A survey by APICCAPS, the Portuguese shoe industry association, showed that there were more companies reporting an increase in production than a decrease for the first time in three years.