Myanmar: Leather Footwear Market 2024

Leather Footwear Market Size in Myanmar

In 2021, after two years of growth, there was significant decline in the Myanmar's leather footwear market, when its value decreased by -15.9% to $X. Over the period under review, consumption showed a deep downturn. Leather footwear consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Leather Footwear Production in Myanmar

In value terms, leather footwear production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 36% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Leather Footwear Exports

Exports from Myanmar

In 2021, after three years of decline, there was significant growth in shipments abroad of leather footwear, when their volume increased by 44% to X tons. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 89% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, leather footwear exports dropped to $X in 2021. In general, exports showed resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 92% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons), Japan (X tons) and the United States (X tons) were the main destinations of leather footwear exports from Myanmar, with a combined 87% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +194.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for leather footwear exported from Myanmar were Thailand ($X), Japan ($X) and the United States ($X), with a combined 86% share of total exports.

Thailand, with a CAGR of +207.1%, saw the highest growth rate of the value of exports, among 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

In 2021, the average leather footwear export price amounted to $X per kg, falling by -30.7% against the previous year. Over the period under review, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Italy ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Myanmar

In 2021, overseas purchases of leather footwear decreased by -40.8% to X tons, falling for the fourth year in a row after three years of growth. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 99% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, leather footwear imports shrank sharply to $X in 2021. Over the period under review, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 65%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and India (X kg) were the main suppliers of leather footwear imports to Myanmar, together comprising 93% of total imports. These countries were followed by Vietnam, Malaysia and Japan, which together accounted for a further 5%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +106.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of leather footwear to Myanmar, comprising 58% of total imports. The second position in the ranking was held by Thailand ($X), with a 23% share of total imports. It was followed by Vietnam, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-9.2% per year) and Vietnam (+135.1% per year).

Import Prices by Country

In 2021, the average leather footwear import price amounted to $X per kg, surging by 8.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 57%. Over the period under review, average import prices attained the peak figure at $X per kg in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform