Uruguay: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Uruguay

In 2022, the Uruguayan market for footwear with uppers of textile materials increased by 50% to $X, rising for the second year in a row after three years of decline. Overall, consumption enjoyed strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Footwear with Uppers of Textile Materials

Exports from Uruguay

In 2022, shipments abroad of footwear with uppers of textile materials decreased by -93.3% to X pairs for the first time since 2017, thus ending a four-year rising trend. In general, exports saw a slight curtailment. The pace of growth was the most pronounced in 2013 with an increase of 600% against the previous year. The exports peaked at X pairs in 2021, and then fell remarkably in the following year.

In value terms, exports of footwear with uppers of textile materials shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 605% against the previous year. Over the period under review, the exports of hit record highs at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Argentina (X pairs) was the main destination for exports of footwear with uppers of textile materials from Uruguay, accounting for a 92% share of total exports. Moreover, exports of footwear with uppers of textile materials to Argentina exceeded the volume sent to the second major destination, Turkey (X pairs), more than tenfold. The third position in this ranking was held by the United States (X pairs), with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina totaled -16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and the United States (-17.5% per year).

In value terms, Argentina ($X) emerged as the key foreign market for footwear with uppers of textile materials exports from Uruguay, comprising 91% of total exports. The second position in the ranking was taken by the United States ($X), with a 5.5% share of total exports. It was followed by Turkey, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina amounted to -20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.4% per year) and Turkey (0.0% per year).

Export Prices by Country

In 2022, the average export price for footwear with uppers of textile materials amounted to $X per pair, with a decrease of -55.2% against the previous year. Overall, the export price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 56%. As a result, the export price attained the peak level of $X per pair. From 2021 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 the United States ($X per pair), while the average price for exports to Turkey ($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 (+13.5%), while the prices for the other major destinations experienced a decline.

Imports of Footwear with Uppers of Textile Materials

Imports into Uruguay

In 2022, purchases abroad of footwear with uppers of textile materials increased by 36% to X pairs, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X pairs in 2017; afterwards, it flattened through to 2022.

In value terms, imports of footwear with uppers of textile materials skyrocketed to $X in 2022. Overall, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear with uppers of textile materials to Uruguay, with a 71% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Brazil (X pairs), sixfold. Vietnam (X pairs) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+28.1% per year) and Vietnam (+18.9% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Uruguay, comprising 48% of total imports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total imports. It was followed by Vietnam, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+28.4% per year) and Vietnam (+24.2% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per pair in 2022, surging by 8.8% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for footwear with uppers of textile materials increased by +39.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 28%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

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 Indonesia ($X per pair), while the price for Argentina ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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