Guatemala: Leather Footwear Market 2024

Leather Footwear Market Size in Guatemala

The Guatemalan leather footwear market expanded markedly to $X in 2022, picking up by X% 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). In general, consumption saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Leather Footwear Exports

Exports from Guatemala

In 2022, overseas shipments of leather footwear increased by X% to X pairs, rising for the third year in a row after three years of decline. Over the period under review, exports, however, showed a perceptible slump. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of X pairs. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, leather footwear exports rose slightly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X pairs) was the main destination for leather footwear exports from Guatemala, accounting for a X% share of total exports. Moreover, leather footwear exports to the United States exceeded the volume sent to the second major destination, Honduras (X pairs), ninefold. The third position in this ranking was held by El Salvador (X pairs), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and El Salvador (X% per year).

In value terms, the United States ($X) remains the key foreign market for leather footwear exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by Honduras ($X), with an X% share of total exports. It was followed by El Salvador, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and El Salvador (X% per year).

Export Prices by Country

The average leather footwear export price stood at $X per pair in 2022, dropping by X% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price 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, leather footwear export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per pair in 2021, and then declined in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were El Salvador ($X per pair) and the United States ($X per pair), while the average price for exports to Costa Rica ($X per pair) and Nicaragua ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Guatemala

In 2022, imports of leather footwear into Guatemala rose sharply to X pairs, increasing by X% compared with the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X pairs in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, leather footwear imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X pairs), China (X pairs) and Vietnam (X pairs) were the main suppliers of leather footwear imports to Guatemala, with a combined X% share of total imports. Brazil, Colombia, Bangladesh, El Salvador, the United States, Spain, Panama and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest leather footwear suppliers to Guatemala were Mexico ($X), China ($X) and Vietnam ($X), with a combined X% share of total imports. Brazil, Bangladesh, Colombia, El Salvador, the United States, Spain, Panama and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average leather footwear import price amounted to $X per pair, therefore, remained relatively stable 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 2020 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per pair) and Panama ($X per pair), while the price for El Salvador ($X per pair) and Brazil ($X per pair) were amongst the lowest.

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

Source: IndexBox Platform

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