Malaysia: Footwear Market 2023

Footwear Market Size in Malaysia

In 2022, after four years of decline, there was significant growth in the Malaysian footwear market, when its value increased by X% to $X. Over the period under review, consumption saw a relatively flat trend pattern. Footwear consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Footwear Production in Malaysia

In value terms, footwear production soared to $X in 2022 estimated in export price. Overall, production, however, recorded a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Footwear Exports

Exports from Malaysia

In 2022, overseas shipments of footwear were finally on the rise to reach X pairs after five years of decline. Overall, exports, however, recorded a deep slump. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X pairs. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, footwear exports contracted to $X in 2022. Over the period under review, exports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X pairs), Indonesia (X pairs) and Thailand (X pairs) were the main destinations of footwear exports from Malaysia, with a combined X% share of total exports. Germany, the United States, Kuwait, the Netherlands, Poland, the Philippines, the United Arab Emirates, Greece, Turkey and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for footwear exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average footwear export price amounted to $X per pair, reducing by X% against the previous year. In general, export price indicated measured 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, footwear export price increased by X% against 2015 indices. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per pair in 2021, and then reduced in the following year.

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

Footwear Imports

Imports into Malaysia

In 2022, purchases abroad of footwear increased by X% to X pairs for the first time since 2017, thus ending a four-year declining trend. Overall, imports posted a buoyant increase. Imports peaked at X pairs in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, footwear imports soared to $X in 2022. Over the period under review, imports showed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest footwear supplier to Malaysia, accounting for a X% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X pairs), more than tenfold. The third position in this ranking was taken by Vietnam (X pairs), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of footwear to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

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

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, declining by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per pair. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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