Ecuador: Leather Footwear Market 2024

Leather Footwear Market Size in Ecuador

The Ecuadorian leather footwear market rose sharply to $X in 2021, surging by 13% against the previous year. Overall, consumption, however, saw a slight contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Leather Footwear Production in Ecuador

In value terms, leather footwear production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of 5.6% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Leather Footwear Exports

Exports from Ecuador

In 2021, shipments abroad of leather footwear increased by 26% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a dramatic setback. The most prominent rate of growth was recorded in 2016 with an increase of 213% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, leather footwear exports surged to $X in 2021. Overall, exports, however, showed a dramatic shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 194% against the previous year. The exports peaked at $X in 2013; however, from 2014 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 Ecuador, accounting for a 44% share of total exports. Moreover, leather footwear exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), twofold. The third position in this ranking was held by Colombia (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+8.4% per year) and Colombia (-38.2% per year).

In value terms, the United States ($X) remains the key foreign market for leather footwear exports from Ecuador, comprising 39% of total exports. The second position in the ranking was held by Panama ($X), with a 19% share of total exports. It was followed by Colombia, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+10.5% per year) and Colombia (-32.3% per year).

Export Prices by Country

The average leather footwear export price stood at $X per kg in 2021, growing by 34% against the previous year. Overall, the export price showed a resilient expansion. The pace of growth was the most pronounced in 2020 an increase of 46% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per kg), while the average price for exports to Guatemala ($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 Colombia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Ecuador

In 2021, the amount of leather footwear imported into Ecuador soared to X tons, jumping by 32% against 2020. Over the period under review, imports, however, showed a mild slump. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, leather footwear imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 33% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Uruguay (X tons), Brazil (X tons) and Colombia (X tons) were the main suppliers of leather footwear imports to Ecuador, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest leather footwear suppliers to Ecuador were Uruguay ($X), Brazil ($X) and Vietnam ($X), together accounting for 60% of total imports.

In terms of the main suppliers, Uruguay, with a CAGR of +12.4%, recorded the highest rates of growth with regard to 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 leather footwear import price stood at $X per kg in 2021, with a decrease of -2.6% against the previous year. Overall, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 6.6% against the previous year. Over the period under review, average import prices reached the maximum at $X per kg in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per kg), while the price for Colombia ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform