Sri Lanka: Market for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap 2024

Market Size for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap in Sri Lanka

The Sri Lankan market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap contracted to $X in 2021, which is down by -8.7% against the previous year. The market value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2020, and then dropped in the following year.

Production of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap in Sri Lanka

In value terms, production of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 36%. Production of peaked at $X in 2020, and then reduced in the following year.

Exports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Exports from Sri Lanka

In 2021, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from Sri Lanka dropped remarkably to X tons, declining by -34.2% on the previous year. In general, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 55%. Over the period under review, the exports of reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap contracted modestly to $X in 2021. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2013 when exports increased by 107%. Over the period under review, the exports of attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from Sri Lanka, with a 35% share of total exports. Moreover, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to the UK exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Australia (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +90.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+0.6% per year) and Australia (-10.0% per year).

In value terms, the UK ($X) remains the key foreign market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap exports from Sri Lanka, comprising 61% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 6.3% share of total exports. It was followed by India, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +105.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+6.3% per year) and India (+5.7% per year).

Export Prices by Country

The average export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, rising by 47% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap increased by +94.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Imports into Sri Lanka

In 2021, supplies from abroad of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 96% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap soared to $X in 2021. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 152% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap supplier to Sri Lanka, accounting for a 66% share of total imports. Moreover, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+7.8% per year) and the United Arab Emirates (+1.9% per year).

In value terms, China ($X) constituted the largest supplier of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to Sri Lanka, comprising 67% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total imports. It was followed by India, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +48.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.9% per year) and India (+40.9% per year).

Import Prices by Country

The average import price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, picking up by 13% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap increased by +60.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 29% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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