Latin America and the Caribbean: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Latin America and the Caribbean

In 2022, the Latin American market for footwear with uppers of textile materials increased by 5.7% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Footwear with Uppers of Textile Materials in Latin America and the Caribbean

In value terms, production of footwear with uppers of textile materials amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 30%. As a result, production reached the peak level of $X. From 2019 to 2022, production of growth failed to regain momentum.

Exports of Footwear with Uppers of Textile Materials

Exports in Latin America and the Caribbean

In 2022, overseas shipments of footwear with uppers of textile materials increased by 15% to X pairs, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 42% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, exports of footwear with uppers of textile materials surged to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil prevails in materials structure, resulting at X pairs, which was approx. 69% of total exports in 2022. Mexico (X pairs) ranks second in terms of the total exports with a 9.3% share, followed by the Dominican Republic (8.8%) and Panama (6.4%). Colombia (X pairs) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to footwear with uppers of textile materials exports from Brazil stood at +14.6%. At the same time, the Dominican Republic (+23.3%), Colombia (+2.2%) and Mexico (+1.3%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +23.3% from 2012-2022. By contrast, Panama (-10.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and the Dominican Republic increased by +40 and +7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest footwear with uppers of textile materials supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with an 11% share of total exports. It was followed by Mexico, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to +12.7%. In the other countries, the average annual rates were as follows: the Dominican Republic (+30.4% per year) and Mexico (+3.8% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per pair, with an increase of 21% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. Over the period under review, the export prices reached the peak figure at $X per pair in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per pair), while Colombia ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+5.8%), while the other leaders experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports in Latin America and the Caribbean

In 2022, purchases abroad of footwear with uppers of textile materials increased by 5.9% to X pairs, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, imports of footwear with uppers of textile materials rose significantly to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +51.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Chile was the main importer of footwear with uppers of textile materials in Latin America and the Caribbean, with the volume of imports accounting for X pairs, which was approx. 37% of total imports in 2022. Peru (X pairs) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Mexico (11%), Brazil (8%), Argentina (7.1%) and Colombia (5.2%). Uruguay (X pairs) took a little share of total imports.

Imports into Chile increased at an average annual rate of +8.2% from 2012 to 2022. At the same time, Argentina (+24.7%), Peru (+8.2%), Mexico (+4.5%) and Uruguay (+3.8%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +24.7% from 2012-2022. By contrast, Brazil (-1.2%) and Colombia (-9.6%) illustrated a downward trend over the same period. Chile (+15 p.p.), Peru (+6.9 p.p.), Argentina (+6.1 p.p.) and Mexico (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Colombia saw its share reduced by -3.9% and -13.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported footwear with uppers of textile materials in Latin America and the Caribbean, comprising 28% of total imports. The second position in the ranking was taken by Peru ($X), with a 14% share of total imports. It was followed by Mexico, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile stood at +3.7%. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+7.0% per year) and Mexico (+7.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per pair in 2022, increasing by 5.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 11% against the previous year. Over the period under review, import prices attained the maximum at $X per pair in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Colombia ($X per pair), while Brazil ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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