GCC: Leather Footwear Market 2024

Leather Footwear Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in overseas shipments of leather footwear, which increased by 53% to X tons in 2021. Overall, exports continue to indicate notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, leather footwear exports surged to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +125.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 49%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), constituting an 8.2% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to leather footwear exports from the United Arab Emirates stood at +8.4%. At the same time, Saudi Arabia (+19.5%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +19.5% from 2012-2021. By contrast, Oman (-21.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Saudi Arabia increased by +31 and +6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest leather footwear supplier in GCC, comprising 79% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 6.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +6.3%. In the other countries, the average annual rates were as follows: Saudi Arabia (+15.0% per year) and Oman (-20.1% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per kg, which is down by -9.9% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, leather footwear export price decreased by -35.4% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 24% against the previous year. The level of export peaked at $X per kg in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while Oman ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.7%), while the other leaders experienced a decline in the export price figures.

Leather Footwear Imports

Imports in GCC

In 2021, approx. X tons of leather footwear were imported in GCC; picking up by 36% against the previous year. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, leather footwear imports surged to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the key importer of leather footwear, making up 56% of total imports. Saudi Arabia (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (12%), Qatar (9.5%) and Oman (5%). Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to leather footwear imports into the United Arab Emirates stood at +3.3%. At the same time, Kuwait (+7.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.7% from 2012-2021. By contrast, Bahrain (-1.6%), Qatar (-3.8%), Oman (-7.7%) and Saudi Arabia (-8.0%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+17 p.p.) and Kuwait (+6.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-3.2 p.p.), Oman (-4.6 p.p.) and Saudi Arabia (-14.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported leather footwear in GCC, comprising 62% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 12% share of total imports. It was followed by Kuwait, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +4.6%. In the other countries, the average annual rates were as follows: Saudi Arabia (-0.5% per year) and Kuwait (+7.2% per year).

Import Prices by Country

The import price in GCC stood at $X per kg in 2021, jumping by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2013 an increase of 23% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+17.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform