Singapore: Leather Footwear Market 2022

Leather Footwear Market Size in Singapore

The Singaporean leather footwear market surged to $X in 2017, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, faced a deep slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2017, consumption stood at a somewhat lower figure.

Leather Footwear Exports

Exports from Singapore

In 2017, exports of leather footwear from Singapore expanded markedly to X pairs, picking up by X% against the year before. Over the period under review, total exports indicated a prominent increase from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, exports increased by +X% against 2014 indices. The growth pace was the most rapid in 2014 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum in 2017 and are likely to continue growth in the near future.

In value terms, leather footwear exports rose sharply to $X in 2017. Overall, exports saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Singapore exports peaked in 2017 and are likely to see gradual growth in the immediate term.

Exports by Country

China was the major exporting country with an export of around X pairs, which finished at X% of total exports. It was distantly followed by Vietnam (X pairs), Italy (X pairs), India (X pairs) and Germany (X pairs), together mixing up a X% share of total exports. Portugal (X pairs), Belgium (X pairs), Hong Kong SAR (X pairs), Spain (X pairs), France (X pairs), the Netherlands (X pairs) and Indonesia (X pairs) occupied a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of leather footwear. At the same time, Vietnam (+X%), France (+X%), India (+X%), the Netherlands (+X%) and Portugal (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2017. Spain and Germany experienced a relatively flat trend pattern. By contrast, Italy (-X%), Belgium (-X%), Indonesia (-X%) and Hong Kong SAR (-X%) illustrated a downward trend over the same period. While the share of Vietnam (+X p.p.) and India (+X p.p.) increased significantly in terms of the global exports from 2007-2017, the share of Indonesia (-X p.p.) and Hong Kong SAR (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Italy ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2017, together accounting for X% of total exports.

Vietnam saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2017, the leather footwear export price in Singapore amounted to $X per pair, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2012 an increase of X% year-to-year. As a result, export price reached the peak level of $X per pair. from 2013 to 2017, the growth in terms of the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2017, the country with the highest price was Italy ($X per pair), while China ($X per pair) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Leather Footwear Imports

Imports into Singapore

In 2017, after two years of decline, there was significant growth in purchases abroad of leather footwear, when their volume increased by X% to X pairs. Over the period under review, imports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2013 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at X pairs in 2007; however, from 2008 to 2017, imports stood at a somewhat lower figure.

In value terms, leather footwear imports rose markedly to $X in 2017. In general, total imports indicated noticeable growth from 2007 to 2017: its value decreased at an average annual rate of -X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Singapore imports peaked at $X in 2014; however, from 2015 to 2017, imports stood at a somewhat lower figure.

Imports by Country

In 2017, the United States (X pairs), distantly followed by Germany (X pairs), the UK (X pairs), France (X pairs) and Italy (X pairs) represented the largest importers of leather footwear, together making up X% of total imports. Hong Kong SAR (X pairs), the Netherlands (X pairs), Belgium (X pairs), Russia (X pairs), Japan (X pairs), China (X pairs), Spain (X pairs) and Canada (X pairs) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China, while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported leather footwear into Singapore, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by France, with a X% share.

From 2007 to 2017, the average annual growth rate of value in the United States amounted to -X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and France (+X% per year).

Import Prices by Country

The leather footwear import price in Singapore stood at $X per pair in 2017, which is down by -X% against the previous year. In general, import price indicated a buoyant expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, leather footwear import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per pair, and then reduced in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per pair), while the UK ($X per pair) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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