Costa Rica: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Costa Rica

The Costa Rican market for footwear with uppers of textile materials fell to $X in 2022, dropping by -12.1% 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, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Costa Rica

After two years of decline, overseas shipments of footwear with uppers of textile materials increased by 2% to X pairs in 2022. Over the period under review, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 258%. As a result, the exports attained the peak of X pairs. From 2018 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of footwear with uppers of textile materials surged to $X in 2022. Overall, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 304% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Guatemala (X pairs) was the main destination for exports of footwear with uppers of textile materials from Costa Rica, with a 45% share of total exports. Moreover, exports of footwear with uppers of textile materials to Guatemala exceeded the volume sent to the second major destination, El Salvador (X pairs), threefold. The third position in this ranking was taken by the United States (X pairs), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Guatemala amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+13.4% per year) and the United States (+32.2% per year).

In value terms, the largest markets for footwear with uppers of textile materials exported from Costa Rica were Guatemala ($X), El Salvador ($X) and the United States ($X), together accounting for 70% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +32.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per pair in 2022, jumping by 36% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for footwear with uppers of textile materials decreased by -19.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 55% against the previous year. Over the period under review, the average export prices reached the maximum at $X per pair in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per pair), while the average price for exports to Guatemala ($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 Japan (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Costa Rica

In 2022, the amount of footwear with uppers of textile materials imported into Costa Rica dropped slightly to X pairs, shrinking by -4% against the previous year's figure. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 58%. Over the period under review, imports of attained the peak figure at X pairs in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of footwear with uppers of textile materials contracted to $X in 2022. Overall, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 58% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X pairs), Vietnam (X pairs) and the United States (X pairs) were the main suppliers of imports of footwear with uppers of textile materials to Costa Rica, with a combined 67% share of total imports. Italy, Spain, Panama and Brazil lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +83.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Costa Rica, comprising 48% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 22% share of total imports. It was followed by Panama, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+9.8% per year) and Panama (+19.5% per year).

Import Prices by Country

In 2022, the average import price for footwear with uppers of textile materials amounted to $X per pair, waning by -9.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 29% against the previous year. The import price peaked at $X per pair in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per pair), while the price for Italy ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform