Guatemala: Footwear Market 2024

Footwear Market Size in Guatemala

In 2022, the Guatemalan footwear market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Footwear Production in Guatemala

In value terms, footwear production fell rapidly to $X in 2022 estimated in export price. In general, production faced a abrupt decrease. The growth pace was the most rapid in 2021 when the production volume increased by X%. Footwear production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Footwear Exports

Exports from Guatemala

In 2022, overseas shipments of footwear increased by X% to X pairs, rising for the third consecutive year after three years of decline. Overall, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X pairs in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, footwear exports expanded rapidly to $X in 2022. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

El Salvador (X pairs), Nicaragua (X pairs) and Honduras (X pairs) were the main destinations of footwear exports from Guatemala, with a combined X% share of total exports. The United States, Mexico, Costa Rica and Panama lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for footwear exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by El Salvador ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2022, the average footwear export price amounted to $X per pair, remaining stable against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per pair in 2018; however, from 2019 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 the United States ($X per pair), while the average price for exports to El Salvador ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into Guatemala

In 2022, the amount of footwear imported into Guatemala contracted to X pairs, which is down by X% against 2021 figures. Overall, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X pairs, and then contracted in the following year.

In value terms, footwear imports surged to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X pairs) constituted the largest footwear supplier to Guatemala, accounting for a X% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X pairs), more than tenfold. The third position in this ranking was held by Mexico (X pairs), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Mexico (X% per year).

In value terms, China ($X) constituted the largest supplier of footwear to Guatemala, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with an X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Brazil (X% per year).

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a slight descent. The import price peaked at $X per pair in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform