Costa Rica: Athletic Footwear Market 2024

Athletic Footwear Market Size in Costa Rica

The Costa Rican athletic footwear market fell to $X in 2022, dropping by -14.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a deep reduction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Athletic Footwear Exports

Exports from Costa Rica

In 2022, athletic footwear exports from Costa Rica surged to X pairs, rising by 242% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 285% against the previous year. The exports peaked at X pairs in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, athletic footwear exports surged to $X in 2022. In general, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 276%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X pairs) was the main destination for athletic footwear exports from Costa Rica, accounting for a 73% share of total exports. Moreover, athletic footwear exports to the United States exceeded the volume sent to the second major destination, Panama (X pairs), threefold. El Salvador (X pairs) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+28.3% per year) and El Salvador (-30.4% per year).

In value terms, the United States ($X) remains the key foreign market for athletic footwear exports from Costa Rica, comprising 73% of total exports. The second position in the ranking was taken by Panama ($X), with a 26% share of total exports. It was followed by El Salvador, with a 0.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+30.2% per year) and El Salvador (-26.9% per year).

Export Prices by Country

In 2022, the average athletic footwear export price amounted to $X per pair, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2020 an increase of 15% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per pair in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per pair), while the average price for exports to the United States ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Athletic Footwear Imports

Imports into Costa Rica

In 2022, approx. X pairs of athletic footwear were imported into Costa Rica; shrinking by -11.7% on the year before. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2021 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure at X pairs in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, athletic footwear imports reduced to $X in 2022. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 41% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X pairs), the United States (X pairs) and Vietnam (X pairs) were the main suppliers of athletic footwear imports to Costa Rica, together accounting for 69% of total imports. Indonesia, Panama, Taiwan (Chinese) and Colombia lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +59.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Vietnam ($X) were the largest athletic footwear suppliers to Costa Rica, with a combined 70% share of total imports. Indonesia, Panama, Taiwan (Chinese) and Colombia lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +67.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average athletic footwear import price stood at $X per pair in 2022, with a decrease of -3.2% against the previous year. Over the last decade, it increased at an average annual rate of +4.8%. The pace of growth appeared the most rapid in 2020 an increase of 15%. Over the period under review, average import prices attained the maximum at $X per pair in 2021, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Colombia ($X per pair) and Taiwan (Chinese) ($X per pair), while the price for Indonesia ($X per pair) and Vietnam ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform