Latvia: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Latvia

For the sixth consecutive year, the Latvian market for footwear with uppers of textile materials recorded growth in sales value, which increased by 22% to $X in 2022. Over the period under review, consumption saw a prominent expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Exports of Footwear with Uppers of Textile Materials

Exports from Latvia

After three years of growth, shipments abroad of footwear with uppers of textile materials decreased by -21.3% to X pairs in 2022. In general, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 183% against the previous year. The exports peaked at X pairs in 2021, and then reduced rapidly in the following year.

In value terms, exports of footwear with uppers of textile materials rose rapidly to $X in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 519%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Estonia (X pairs), Lithuania (X pairs) and Russia (X pairs) were the main destinations of exports of footwear with uppers of textile materials from Latvia, with a combined 95% share of total exports. Sweden and Poland lagged somewhat behind, together accounting for a further 4%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +154.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for footwear with uppers of textile materials exported from Latvia were Russia ($X), Estonia ($X) and Lithuania ($X), together accounting for 93% of total exports. Poland and Sweden lagged somewhat behind, together comprising a further 4.3%.

Poland, with a CAGR of +171.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per pair in 2022, rising by 38% against the previous year. In general, the export price showed a strong expansion. The pace of growth was the most pronounced in 2019 an increase of 119% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per pair), while the average price for exports to Sweden ($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 Sweden (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Latvia

In 2022, the amount of footwear with uppers of textile materials imported into Latvia surged to X pairs, picking up by 25% against 2021 figures. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.3% 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 +81.6% against 2016 indices. The pace of growth was the most pronounced in 2015 when imports increased by 35% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of footwear with uppers of textile materials reduced slightly to $X in 2022. Overall, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 67% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Lithuania (X pairs), Poland (X pairs) and China (X pairs) were the main suppliers of imports of footwear with uppers of textile materials to Latvia, together accounting for 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +16.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear with uppers of textile materials suppliers to Latvia were Poland ($X), Estonia ($X) and Germany ($X), with a combined 63% share of total imports.

Poland, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for footwear with uppers of textile materials amounted to $X per pair, dropping by -22.2% against the previous year. In general, the import price, however, showed strong growth. The growth pace was the most rapid in 2021 an increase of 67%. As a result, import price reached the peak level of $X per pair, and then contracted notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform