Guatemala: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Guatemala

The Guatemalan market for footwear with uppers of textile materials expanded markedly to $X in 2022, growing by 7.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a temperate increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Footwear with Uppers of Textile Materials

Exports from Guatemala

In 2022, shipments abroad of footwear with uppers of textile materials increased by 17% to X pairs, rising for the second consecutive year after four years of decline. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 26%. The exports peaked at X pairs in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of footwear with uppers of textile materials rose markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 when exports increased by 21%. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X pairs) was the main destination for exports of footwear with uppers of textile materials from Guatemala, accounting for a 61% share of total exports. Moreover, exports of footwear with uppers of textile materials to El Salvador exceeded the volume sent to the second major destination, Honduras (X pairs), threefold. The United States (X pairs) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-2.0% per year) and the United States (-0.1% per year).

In value terms, El Salvador ($X) remains the key foreign market for footwear with uppers of textile materials exports from Guatemala, comprising 62% of total exports. The second position in the ranking was held by Honduras ($X), with a 19% share of total exports. It was followed by the United States, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+3.9% per year) and the United States (+7.2% per year).

Export Prices by Country

In 2022, the average export price for footwear with uppers of textile materials amounted to $X per pair, falling by -7.8% against the previous year. In general, the export price, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 an increase of 62% against the previous year. The export price peaked at $X per pair in 2021, and then dropped in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Mexico ($X per pair) and Costa Rica ($X per pair), while the average price for exports to the United States ($X per pair) and Honduras ($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 Nicaragua (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Guatemala

Imports of footwear with uppers of textile materials into Guatemala reduced slightly to X pairs in 2022, which is down by -1.5% against 2021 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. Imports peaked at X pairs in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of footwear with uppers of textile materials expanded notably to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. Over the period under review, imports of reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear with uppers of textile materials to Guatemala, with a 75% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Mexico (X pairs), more than tenfold. Vietnam (X pairs) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+3.7% per year) and Vietnam (+39.2% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Guatemala, comprising 72% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.6% share of total imports. It was followed by Mexico, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+36.4% per year) and Mexico (+8.7% per year).

Import Prices by Country

In 2022, the average import price for footwear with uppers of textile materials amounted to $X per pair, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The pace of growth appeared the most rapid in 2014 an increase of 21% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per pair) and Brazil ($X per pair), while the price for Mexico ($X per pair) and China ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform