Guatemala: Waterproof Footwear Market 2024

Waterproof Footwear Market Size in Guatemala

After two years of decline, the Guatemalan waterproof footwear market increased by 6.2% to $X in 2022. In general, consumption, however, continues to indicate a pronounced contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Waterproof Footwear Production in Guatemala

In value terms, waterproof footwear production rose to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 7.5% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Waterproof Footwear Exports

Exports from Guatemala

In 2022, after two years of growth, there was decline in shipments abroad of waterproof footwear, when their volume decreased by -1.8% to X pairs. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 52%. Over the period under review, the exports hit record highs at X pairs in 2021, and then contracted in the following year.

In value terms, waterproof footwear exports fell slightly to $X in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +62.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 29%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted modestly in the following year.

Exports by Country

Mexico (X pairs), Nicaragua (X pairs) and Costa Rica (X pairs) were the main destinations of waterproof footwear exports from Guatemala, together comprising 76% of total exports. Honduras, Panama, El Salvador and Jamaica lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +18.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for waterproof footwear exported from Guatemala were Mexico ($X), Nicaragua ($X) and Costa Rica ($X), with a combined 76% share of total exports. Honduras, Panama, El Salvador and Jamaica lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, Jamaica, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average waterproof footwear export price stood at $X per pair in 2022, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2015 an increase of 23%. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Honduras ($X per pair) and El Salvador ($X per pair), while the average price for exports to Costa Rica ($X per pair) and Jamaica ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Waterproof Footwear Imports

Imports into Guatemala

For the third consecutive year, Guatemala recorded growth in supplies from abroad of waterproof footwear, which increased by 5.6% to X pairs in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +123.8% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, waterproof footwear imports surged to $X in 2022. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 53%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X pairs), El Salvador (X pairs) and the United States (X pairs) were the main suppliers of waterproof footwear imports to Guatemala, together accounting for 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +39.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of waterproof footwear to Guatemala, comprising 52% of total imports. The second position in the ranking was held by El Salvador ($X), with a 25% share of total imports. It was followed by the United States, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (+1.8% per year) and the United States (+10.5% per year).

Import Prices by Country

The average waterproof footwear import price stood at $X per pair in 2022, growing by 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Panama ($X per pair) and the United States ($X per pair), while the price for El Salvador ($X per pair) and Mexico ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform