Hong Kong SAR, China: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Hong Kong SAR, China

The Hong Kong market for footwear with uppers of textile materials reduced notably to $X in 2022, dropping by -20.7% 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). In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +48.1% against 2018 indices. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Exports of Footwear with Uppers of Textile Materials

Exports from Hong Kong SAR, China

Exports of footwear with uppers of textile materials from Hong Kong SAR declined dramatically to X pairs in 2022, waning by -39% against the previous year. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 25% against the previous year. As a result, the exports reached the peak of X pairs. From 2015 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of footwear with uppers of textile materials soared to $X in 2022. In general, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 18%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X pairs), the United States (X pairs) and Japan (X pairs) were the main destinations of exports of footwear with uppers of textile materials from Hong Kong SAR, with a combined 46% share of total exports. Singapore, Macao SAR, Taiwan (Chinese), Mexico, the United Arab Emirates, Spain, France, the Philippines, South Korea and Chile lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +46.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for footwear with uppers of textile materials exports from Hong Kong SAR, comprising 50% of total exports. The second position in the ranking was taken by Macao SAR ($X), with an 11% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+15.2% per year) and the United States (-16.4% per year).

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per pair in 2022, picking up by 91% against the previous year. In general, the export price enjoyed a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per pair), while the average price for exports to France ($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 Philippines (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Hong Kong SAR, China

In 2022, imports of footwear with uppers of textile materials into Hong Kong SAR reduced notably to X pairs, declining by -40% compared with the year before. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. Imports peaked at X pairs in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of footwear with uppers of textile materials reduced sharply to $X in 2022. In general, imports recorded a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Imports peaked at $X in 2019; however, from 2020 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 Hong Kong SAR, with a 84% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+6.1% per year) and Cambodia (+34.1% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Hong Kong SAR, comprising 32% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+9.4% per year) and Cambodia (+27.9% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per pair in 2022, increasing by 40% against the previous year. Overall, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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