Latin America and the Caribbean: Footwear Market 2025

Footwear Market Size in Latin America and the Caribbean

In 2022, the Latin American 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, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Footwear Production in Latin America and the Caribbean

In value terms, footwear production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Footwear Exports

Exports in Latin America and the Caribbean

In 2022, footwear exports in Latin America and the Caribbean surged to X pairs, increasing by X% on the previous year. Over the period under review, exports, however, showed a slight contraction. The volume of export peaked at X pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, footwear exports surged to $X in 2022. Overall, exports, however, saw a pronounced slump. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the largest exporting country with an export of about X pairs, which reached X% of total exports. It was distantly followed by Mexico (X pairs) and Panama (X pairs), together constituting a X% share of total exports. The Dominican Republic (X pairs) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to footwear exports from Brazil stood at X%. At the same time, Mexico (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, the Dominican Republic (X%) and Panama (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Mexico (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest footwear supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and the Dominican Republic ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per pair, growing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per pair in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the export price figures.

Footwear Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of footwear increased by X% to X pairs, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X pairs in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, footwear imports skyrocketed to $X in 2022. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Chile (X pairs), distantly followed by Mexico (X pairs), Peru (X pairs), Colombia (X pairs) and Argentina (X pairs) were the key importers of footwear, together constituting X% of total imports. Brazil (X pairs), Guatemala (X pairs), Venezuela (X pairs), Uruguay (X pairs), Panama (X pairs), Ecuador (X pairs), the Dominican Republic (X pairs) and Costa Rica (X pairs) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Dominican Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Peru ($X), with a combined X% share of total imports. Colombia, Argentina, Brazil, Ecuador, Guatemala, Panama, Venezuela, Costa Rica, Uruguay and the Dominican Republic lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per pair, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ecuador ($X per pair), while Uruguay ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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