Hong Kong SAR, China: Market for Footwear with Uppers of Textile Materials 2023

Market Size for Footwear with Uppers of Textile Materials in Hong Kong SAR, China

The Hong Kong market for footwear with uppers of textile materials soared to $X in 2021, picking up by 43% 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). Over the period under review, consumption showed a significant increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Exports of Footwear with Uppers of Textile Materials

Exports from Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded decline in shipments abroad of footwear with uppers of textile materials, which decreased by -0.8% to X tons in 2021. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 11% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of footwear with uppers of textile materials rose notably to $X in 2021. Overall, exports recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 18%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), the United States (X tons) and Macao SAR (X tons) were the main destinations of exports of footwear with uppers of textile materials from Hong Kong SAR, with a combined 57% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of +8.8%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X), the United States ($X) and Macao SAR ($X) appeared to be the largest markets for footwear with uppers of textile materials exported from Hong Kong SAR worldwide, with a combined 57% share of total exports.

In terms of the main countries of destination, Macao SAR, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per ton in 2021, growing by 10% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for footwear with uppers of textile materials increased by +68.6% against 2013 indices. The pace of growth appeared the most rapid in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major export markets. In 2021, the countries with the highest prices were Macao SAR ($X per ton) and the Netherlands ($X per ton), while the average price for exports to France ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Hong Kong SAR, China

In 2021, approx. X tons of footwear with uppers of textile materials were imported into Hong Kong SAR; picking up by 16% on 2020 figures. Over the period under review, imports, however, recorded a deep contraction. The growth pace was the most rapid in 2019 with an increase of 23% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of footwear with uppers of textile materials soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest footwear with uppers of textile materials supplier to Hong Kong SAR, accounting for a 50% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+44.7% per year) and Italy (+8.5% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Hong Kong SAR, comprising 46% of total imports. The second position in the ranking was taken by France ($X), with a 20% share of total imports. It was followed by Italy, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+43.2% per year) and Italy (+12.3% per year).

Import Prices by Country

In 2021, the average import price for footwear with uppers of textile materials amounted to $X per ton, surging by 6.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.3%. The pace of growth was the most pronounced in 2020 an increase of 27% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per ton) and France ($X per ton), while the price for Vietnam ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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