ASEAN: Footwear Market 2024

Footwear Market Size in ASEAN

The ASEAN footwear market contracted to $X in 2022, reducing by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Footwear Production in ASEAN

In value terms, footwear production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Footwear Exports

Exports in ASEAN

In 2022, the amount of footwear exported in ASEAN soared to X pairs, picking up by X% against 2021 figures. Total exports indicated buoyant growth from 2012 to 2022: 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 2022 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, footwear exports skyrocketed to $X in 2022. Overall, exports showed prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, Vietnam (X pairs) was the key exporter of footwear, mixing up X% of total exports. Thailand (X pairs) ranks second in terms of the total exports with a X% share, followed by Cambodia (X%), Myanmar (X%) and Indonesia (X%). Singapore (X pairs) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to footwear exports from Vietnam stood at X%. At the same time, Myanmar (X%), Cambodia (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Thailand experienced a relatively flat trend pattern. Vietnam (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest footwear supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Cambodia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per pair, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per pair in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per pair), while Thailand ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Footwear Imports

Imports in ASEAN

In 2022, purchases abroad of footwear increased by X% to X pairs, rising for the second consecutive year after two years of decline. Total imports indicated a strong expansion from 2012 to 2022: 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 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, footwear imports soared to $X in 2022. Overall, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the major importing country with an import of about X pairs, which accounted for X% of total imports. Malaysia (X pairs) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%), the Philippines (X%) and Indonesia (X%). Myanmar (X pairs) and Vietnam (X pairs) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), Vietnam (X%), Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, the Philippines (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.), Myanmar (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) and the Philippines (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Malaysia, the Philippines, Vietnam and Myanmar lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per pair, falling by 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 2017 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per pair in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per pair), while Myanmar ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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