Venezuela: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Venezuela

The Venezuelan market for footwear with uppers of textile materials fell slightly to $X in 2022, with a decrease of -3% 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 saw a deep downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Footwear with Uppers of Textile Materials

Exports from Venezuela

In 2022, the amount of footwear with uppers of textile materials exported from Venezuela fell to X pairs, shrinking by -10.8% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 109%. Over the period under review, the exports of hit record highs at X pairs in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of footwear with uppers of textile materials dropped remarkably to $X in 2022. In general, exports, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of 176% against the previous year. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

The United States (X pairs) was the main destination for exports of footwear with uppers of textile materials from Venezuela, accounting for a 74% share of total exports. Moreover, exports of footwear with uppers of textile materials to the United States exceeded the volume sent to the second major destination, the Netherlands (X pairs), more than tenfold. The third position in this ranking was taken by Portugal (X pairs), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+111.9% per year) and Portugal (+74.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for footwear with uppers of textile materials exports from Venezuela, comprising 73% of total exports. The second position in the ranking was taken by Portugal ($X), with a 10% share of total exports. It was followed by Spain, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+81.9% per year) and Spain (+26.9% 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 -23.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 134% against the previous year. The export price peaked at $X per pair in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per pair), while the average price for exports to the Netherlands ($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 Netherlands (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Venezuela

In 2022, the amount of footwear with uppers of textile materials imported into Venezuela declined slightly to X pairs, approximately equating the year before. In general, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 182%. Over the period under review, imports of attained the maximum at X pairs in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of footwear with uppers of textile materials contracted to $X in 2022. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 157% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest footwear with uppers of textile materials supplier to Venezuela, with a 82% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, the United States (X pairs), more than tenfold. The third position in this ranking was held by Chile (X pairs), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.5% per year) and Chile (+188.0% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Venezuela, comprising 86% of total imports. The second position in the ranking was held by Chile ($X), with a 3.7% share of total imports. It was followed by the United States, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+221.5% per year) and the United States (-7.2% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per pair in 2022, declining by -3% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.5% 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 decreased by -4.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 16%. Over the period under review, average import prices attained the maximum at $X per pair in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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