Dominican Republic: Leather Footwear Market 2024

Leather Footwear Market Size in the Dominican Republic

The Dominican leather footwear market soared to $X in 2021, increasing by 80% against the previous year. Over the period under review, consumption saw a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Leather Footwear Production in the Dominican Republic

In value terms, leather footwear production surged to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Leather footwear production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Leather Footwear Exports

Exports from the Dominican Republic

In 2021, leather footwear exports from the Dominican Republic fell significantly to X tons, with a decrease of -38.2% against the year before. Overall, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2014 when exports increased by 11% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, leather footwear exports dropped significantly to $X in 2021. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 21% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for leather footwear exports from the Dominican Republic, accounting for a 82% share of total exports. It was followed by the Netherlands (X tons), with a 2.4% share of total exports. Portugal (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-24.8% per year) and Portugal (+26.1% per year).

In value terms, the United States ($X) remains the key foreign market for leather footwear exports from the Dominican Republic, comprising 85% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 3% share of total exports. It was followed by Germany, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-21.0% per year) and Germany (-1.5% per year).

Export Prices by Country

The average leather footwear export price stood at $X per kg in 2021, standing approx. at the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2015 an increase of 20%. Over the period under review, the average export prices attained the maximum at $X per kg in 2017; however, from 2018 to 2021, 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 the Netherlands ($X per kg), while the average price for exports to Portugal ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Leather Footwear Imports

Imports into the Dominican Republic

After six years of growth, overseas purchases of leather footwear decreased by -10.3% to X tons in 2021. Overall, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by 101% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, leather footwear imports soared to $X in 2021. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 57% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest leather footwear supplier to the Dominican Republic, with a 88% share of total imports. Moreover, leather footwear imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+16.5% per year) and Spain (+1.6% per year).

In value terms, China ($X) constituted the largest supplier of leather footwear to the Dominican Republic, comprising 66% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by Brazil, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.3% per year) and Brazil (+15.9% per year).

Import Prices by Country

The average leather footwear import price stood at $X per kg in 2021, increasing by 40% against the previous year. In general, the import price, however, showed a drastic downturn. Over the period under review, average import prices attained the maximum at $X per kg in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform