Sri Lanka: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Sri Lanka

The Sri Lankan market for footwear with uppers of textile materials reduced to $X in 2022, declining by -3.3% against the previous year. Over the period under review, consumption showed a buoyant increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Footwear with Uppers of Textile Materials in Sri Lanka

In value terms, production of footwear with uppers of textile materials declined to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Sri Lanka

In 2022, approx. X pairs of footwear with uppers of textile materials were exported from Sri Lanka; surging by 19% on the previous year's figure. Overall, exports saw resilient growth. The growth pace was the most rapid in 2015 with an increase of 137% against the previous year. The exports peaked at X pairs in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of footwear with uppers of textile materials contracted significantly to $X in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 198%. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X pairs) was the main destination for exports of footwear with uppers of textile materials from Sri Lanka, with a 84% share of total exports. Moreover, exports of footwear with uppers of textile materials to the UK exceeded the volume sent to the second major destination, Germany (X pairs), ninefold. The United Arab Emirates (X pairs) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +135.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.4% per year) and the United Arab Emirates (+45.5% per year).

In value terms, the UK ($X) remains the key foreign market for footwear with uppers of textile materials exports from Sri Lanka, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to the UK amounted to +125.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+18.8% per year) and the United Arab Emirates (+41.2% per year).

Export Prices by Country

In 2022, the average export price for footwear with uppers of textile materials amounted to $X per pair, dropping by -29.5% against the previous year. Over the period under review, the export price, however, enjoyed resilient growth. The growth pace was the most rapid in 2013 when the average export price increased by 102%. Over the period under review, the average export prices reached the peak figure at $X per pair in 2019; however, from 2020 to 2022, the export prices stood 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 the United States ($X per pair), while the average price for exports to the UK ($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 the United States (+23.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Footwear with Uppers of Textile Materials

Imports into Sri Lanka

In 2022, supplies from abroad of footwear with uppers of textile materials increased by 22% to X pairs, rising for the third consecutive year after two years of decline. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 340% against the previous year. 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 reduced remarkably to $X in 2022. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2015 with an increase of 246%. Over the period under review, imports of reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X pairs) was the main footwear with uppers of textile materials supplier to Sri Lanka, accounting for a 93% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, India (X pairs), more than tenfold. The third position in this ranking was taken by Vietnam (X pairs), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+38.6% per year) and Vietnam (+23.1% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Sri Lanka, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by Vietnam, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+57.8% per year) and Vietnam (+50.8% per year).

Import Prices by Country

In 2022, the average import price for footwear with uppers of textile materials amounted to $X per pair, with a decrease of -38.6% against the previous year. Overall, the import price, however, posted mild growth. The growth pace was the most rapid in 2018 an increase of 127% against the previous year. The import price peaked at $X per pair in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Vietnam ($X per pair), while the price for China ($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 (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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