Myanmar: Footwear Market 2024

Footwear Market Size in Myanmar

The Myanmar's footwear market stood at $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a perceptible contraction. Footwear consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Footwear Production in Myanmar

In value terms, footwear production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Footwear Exports

Exports from Myanmar

Footwear exports from Myanmar skyrocketed to X pairs in 2022, growing by X% against the previous year. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, footwear exports skyrocketed to $X in 2022. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X pairs), Spain (X pairs) and the United States (X pairs) were the main destinations of footwear exports from Myanmar, together comprising X% of total exports.

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 States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Italy ($X) appeared to be the largest markets for footwear exported from Myanmar worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average footwear export price stood at $X per pair in 2022, with a decrease of X% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average 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 for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per pair), while the average price for exports to Spain ($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 Italy (X%), while the prices for the other major destinations experienced a decline.

Footwear Imports

Imports into Myanmar

For the third year in a row, Myanmar recorded growth in supplies from abroad of footwear, which increased by X% to X pairs in 2022. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, footwear imports surged to $X in 2022. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear to Myanmar, with a X% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X pairs), threefold. The third position in this ranking was taken by India (X pairs), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of footwear to Myanmar, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and India (X% per year).

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, rising by X% against the previous year. In general, the import price, however, showed a deep contraction. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, import price reached the peak level of $X per pair. From 2014 to 2022, the average import prices remained at a lower figure.

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 Brazil ($X per pair), while the price for India ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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