Paraguay: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Paraguay

In 2022, the Paraguayan market for footwear with uppers of textile materials increased by 18% to $X, rising for the second year in a row after three years of decline. Overall, consumption continues to indicate modest growth. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Paraguay

In 2022, shipments abroad of footwear with uppers of textile materials decreased by -83.3% to X pairs, falling for the second consecutive year after four years of growth. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,753% against the previous year. The exports peaked at X pairs in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of footwear with uppers of textile materials fell rapidly to $X in 2022. Overall, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,400% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X pairs) was the main destination for exports of footwear with uppers of textile materials from Paraguay, with a 63% share of total exports. Moreover, exports of footwear with uppers of textile materials to Panama exceeded the volume sent to the second major destination, the United States (X pairs), threefold. Venezuela (X pairs) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Panama amounted to +439.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+75.9% per year) and Venezuela (-6.3% per year).

In value terms, Panama ($X), the United States ($X) and Venezuela ($X) appeared to be the largest markets for footwear with uppers of textile materials exported from Paraguay worldwide, with a combined 88% share of total exports.

Panama, with a CAGR of +451.2%, saw the highest rates of growth with regard to 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

The average export price for footwear with uppers of textile materials stood at $X per pair in 2022, growing by 20% against the previous year. In general, the export price enjoyed pronounced growth. The pace of growth was the most pronounced in 2016 when the average export price increased by 358% against the previous year. As a result, the export price attained the peak level of $X per pair. From 2017 to 2022, the average export prices remained at a somewhat 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 Spain ($X per pair), while the average price for exports to Panama ($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 Colombia (+107.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Paraguay

In 2022, approx. X pairs of footwear with uppers of textile materials were imported into Paraguay; picking up by 13% against the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 31%. Imports peaked at X pairs in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of footwear with uppers of textile materials rose slightly to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +51.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X pairs), Brazil (X pairs) and Vietnam (X pairs) were the main suppliers of imports of footwear with uppers of textile materials to Paraguay, together accounting for 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +18.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest footwear with uppers of textile materials suppliers to Paraguay were Brazil ($X), China ($X) and Vietnam ($X), with a combined 95% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +23.8%, recorded the highest rates of growth with regard to the value of imports, 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 -8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15% against the previous year. The import price peaked at $X per pair in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform