Cyprus: Footwear Market 2020

Footwear Market Size in Cyprus

The revenue of the footwear market in Cyprus amounted to $X in 2018, picking up by X% against the previous year. In general, footwear consumption continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the market value increased by X% against the previous year. Over the period under review, the footwear market reached its maximum level at $X in 2008; however, from 2009 to 2018, consumption failed to regain its momentum.

Footwear Production in Cyprus

In value terms, footwear production stood at $X in 2018 estimated in export prices. Overall, footwear production, however, continues to indicate a drastic descent. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. Cyprus footwear production peaked at $X in 2007; however, from 2008 to 2018, production remained at a lower figure.

Footwear Exports

Exports from Cyprus

In 2018, approx. X pairs of footwear were exported from Cyprus; waning by -X% against the previous year. In general, footwear exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. Over the period under review, footwear exports attained their peak figure at X pairs in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

In value terms, footwear exports stood at $X in 2018. Over the period under review, footwear exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, footwear exports reached their peak figure at $X in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

Exports by Country

China dominates footwear exports structure, amounting to X pairs, which was approx. X% of total exports in 2018. It was distantly followed by Vietnam (X pairs), generating a X% share of total exports. Germany (X pairs), Belgium (X pairs), Italy (X pairs), Indonesia (X pairs), Turkey (X pairs), India (X pairs), the Netherlands (X pairs), Spain (X pairs) and the UK (X pairs) occupied a minor share of total exports.

From 2007 to 2018, average annual rates of growth with regard to footwear exports from China stood at -X%. At the same time, the UK (+X%), Turkey (+X%), Vietnam (+X%), India (+X%), the Netherlands (+X%), Indonesia (+X%), Spain (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Belgium and Italy experienced a relatively flat trend pattern. From 2007 to 2018, the share of Vietnam increased by +X% percentage points, while China (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest footwear supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of global exports. It was followed by Italy, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+X% per year) and Italy (+X% per year).

Export Prices by Country

The footwear export price in Cyprus stood at $X per pair in 2018, growing by X% against the previous year. In general, the footwear export price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the export prices for footwear attained their maximum in 2018 and is expected to retain its growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($X per pair), while Turkey ($X per pair) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Footwear Imports

Imports into Cyprus

In 2018, the footwear imports into Cyprus amounted to X pairs, dropping by -X% against the previous year. Over the period under review, footwear imports continue to indicate a slight descent. The growth pace was the most rapid in 2008 when imports increased by X% against the previous year. In that year, footwear imports reached their peak of X pairs. From 2009 to 2018, the growth of footwear imports remained at a lower figure.

In value terms, footwear imports totaled $X in 2018. Over the period under review, footwear imports continue to indicate a measured decline. The pace of growth was the most pronounced in 2008 when imports increased by X% against the previous year. In that year, footwear imports attained their peak of $X. From 2009 to 2018, the growth of footwear imports remained at a somewhat lower figure.

Imports by Country

In 2018, the U.S. (X pairs), distantly followed by Germany (X pairs) and the UK (X pairs) represented the largest importers of footwear, together constituting X% of total imports. Japan (X pairs), France (X pairs), Italy (X pairs), Russia (X pairs), the Philippines (X pairs), India (X pairs), the United Arab Emirates (X pairs), Belgium (X pairs) and Saudi Arabia (X pairs) occupied a minor share of total imports.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, the Philippines (+X%), Saudi Arabia (+X%), India (+X%), Russia (+X%), Germany (+X%), Belgium (+X%), the United Arab Emirates (+X%) and the UK (+X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Japan and Italy experienced a relatively flat trend pattern. By contrast, France (-X%) illustrated a downward trend over the same period. The Philippines (+X p.p.), India (+X p.p.), Germany (+X p.p.) and Saudi Arabia (+X p.p.) significantly strengthened its position in terms of the global imports, while the U.S. saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X), Germany ($X) and France ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports. These countries were followed by the UK, Italy, Japan, Russia, Belgium, the United Arab Emirates, the Philippines, India, Saudi Arabia and Cyprus, which together accounted for a further X terms of the main importing countries, the Philippines experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The footwear import price in Cyprus stood at $X per pair in 2018, growing by X% against the previous year. Over the period under review, the footwear import price, however, continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2009 when the import price increased by X% y-o-y. In that year, the import prices for footwear reached their peak level of $X per pair. From 2010 to 2018, the growth in terms of the import prices for footwear remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was France ($X per pair), while India ($X per pair) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform