Republic of Korea: Leather Footwear Market 2022

Leather Footwear Market Size in Republic of Korea

The South Korean leather footwear market rose significantly to $X in 2017, 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). Over the period under review, consumption enjoyed buoyant growth. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level in 2017 and is expected to retain growth in the near future.

Leather Footwear Exports

Exports from Republic of Korea

In 2017, approx. X pairs of leather footwear were exported from South Korea; waning by -X% compared with the previous year. In general, exports continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2012 when exports increased by X% y-o-y. As a result, exports reached the peak of X pairs. from 2013 to 2017, the growth exports failed to regain the momentum.

In value terms, leather footwear exports totaled $X in 2017. The total export value increased at an average annual rate of +X% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. South Korea exports peaked at $X in 2013; however, from 2014 to 2017, exports stood at a somewhat lower figure.

Exports by Country

China was the major exporting country with an export of about X pairs, which amounted to X% of total exports. Vietnam (X pairs) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Italy (X%) and India (X%). The following exporters - Germany (X pairs), Portugal (X pairs), Belgium (X pairs), Hong Kong SAR (X pairs), Spain (X pairs), France (X pairs), the Netherlands (X pairs) and Indonesia (X pairs) - together made up X% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of leather footwear. At the same time, Vietnam (+X%), France (+X%), India (+X%), the Netherlands (+X%) and Portugal (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2017. Spain and Germany experienced a relatively flat trend pattern. By contrast, Italy (-X%), Belgium (-X%), Indonesia (-X%) and Hong Kong SAR (-X%) illustrated a downward trend over the same period. While the share of Vietnam (+X p.p.) and India (+X p.p.) increased significantly in terms of the global exports from 2007-2017, the share of Indonesia (-X p.p.) and Hong Kong SAR (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Italy ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2017, with a combined X% share of total exports.

In terms of the main exporting countries, Vietnam 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 leather footwear export price in South Korea stood at $X per pair in 2017, increasing by X% against the previous year. Overall, export price indicated a pronounced increase from 2007 to 2017: 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 2017 figures, leather footwear export price decreased by -X% against 2015 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. South Korea export price peaked at $X per pair in 2015; however, from 2016 to 2017, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per pair), while China ($X per pair) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Leather Footwear Imports

Imports into Republic of Korea

For the fifth consecutive year, South Korea recorded growth in purchases abroad of leather footwear, which increased by X% to X pairs in 2017. In general, total imports indicated a perceptible expansion from 2007 to 2017: 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 2017 figures, imports increased by +X% against 2011 indices. The pace of growth was the most pronounced in 2010 when imports increased by X% year-to-year. South Korea imports peaked in 2017 and are expected to retain growth in years to come.

In value terms, leather footwear imports expanded markedly to $X in 2017. Overall, imports saw prominent growth. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. South Korea imports peaked in 2017 and are expected to retain growth in the near future.

Imports by Country

In 2017, the United States (X pairs), distantly followed by Germany (X pairs), the UK (X pairs), France (X pairs) and Italy (X pairs) were the key importers of leather footwear, together mixing up X% of total imports. Hong Kong SAR (X pairs), the Netherlands (X pairs), Belgium (X pairs), Russia (X pairs), Japan (X pairs), China (X pairs), Spain (X pairs) and Canada (X pairs) occupied a relatively small share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China, while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported leather footwear into South Korea, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by France, with a X% share.

In the United States, leather footwear imports decreased by an average annual rate of -X% over the period from 2007-2017. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and France (+X% per year).

Import Prices by Country

The leather footwear import price in South Korea stood at $X per pair in 2017, surging by X% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2007 to 2017: 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 2017 figures, leather footwear import price decreased by -X% against 2015 indices. The growth pace was the most rapid in 2009 an increase of X% year-to-year. Over the period under review, import prices reached the maximum at $X per pair in 2015; however, from 2016 to 2017, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2017, the country with the highest price was China ($X per pair), while the UK ($X per pair) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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