Cuba: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Cuba

After five years of decline, the Cuban market for footwear with uppers of textile materials increased by 282% to $X in 2021. In general, consumption, however, showed a abrupt shrinkage. Consumption of peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Cuba

In 2021, exports of footwear with uppers of textile materials from Cuba surged to X tons, jumping by 240% on the year before. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 872% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of footwear with uppers of textile materials soared to $X in 2021. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 753%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Barbados (X tons) was the main destination for exports of footwear with uppers of textile materials from Cuba, with a 89% share of total exports. Moreover, exports of footwear with uppers of textile materials to Barbados exceeded the volume sent to the second major destination, Switzerland (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Barbados was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+5.7% per year) and Georgia (0.0% per year).

In value terms, Barbados ($X) emerged as the key foreign market for footwear with uppers of textile materials exports from Cuba, comprising 80% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Barbados was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-4.2% per year) and Georgia (0.0% per year).

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per ton in 2021, dropping by -53.7% against the previous year. In general, the export price saw a abrupt contraction. The growth pace was the most rapid in 2020 an increase of 88% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (-9.3%).

Imports of Footwear with Uppers of Textile Materials

Imports into Cuba

In 2021, overseas purchases of footwear with uppers of textile materials increased by 228% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, imports, however, showed a abrupt slump. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of footwear with uppers of textile materials soared to $X in 2021. Over the period under review, imports, however, saw a abrupt setback. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest footwear with uppers of textile materials supplier to Cuba, accounting for a 57% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Panama (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+0.0% per year) and Panama (-12.0% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Cuba, comprising 42% of total imports. The second position in the ranking was taken by Brazil ($X), with a 17% share of total imports. It was followed by Spain, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.9% per year) and Spain (+2.6% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per ton in 2021, with an increase of 28% against the previous year. In general, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 51%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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