Sri Lanka: Footwear Market 2024

Footwear Market Size in Sri Lanka

The Sri Lankan footwear market fell modestly to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Footwear Production in Sri Lanka

In value terms, footwear production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Footwear Exports

Exports from Sri Lanka

In 2022, after two years of decline, there was significant growth in overseas shipments of footwear, when their volume increased by X% to X pairs. In general, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, footwear exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value 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. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X pairs) was the main destination for footwear exports from Sri Lanka, with a X% share of total exports. Moreover, footwear exports to the UK exceeded the volume sent to the second major destination, Sweden (X pairs), fivefold. French Polynesia (X pairs) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and French Polynesia (X% per year).

In value terms, the UK ($X) remains the key foreign market for footwear exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Australia (X% per year).

Export Prices by Country

The average footwear export price stood at $X per pair in 2022, declining by X% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per pair in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per pair), while the average price for exports to France ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into Sri Lanka

In 2022, overseas purchases of footwear increased by X% to X pairs, rising for the third year in a row after three years of decline. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X pairs in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, footwear imports soared to $X in 2022. Over the period under review, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X pairs), India (X pairs) and Hong Kong SAR (X pairs) were the main suppliers of footwear imports to Sri Lanka, with a combined X% share of total imports.

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

In value terms, India ($X), China ($X) and Hong Kong SAR ($X) constituted the largest footwear suppliers to Sri Lanka, with a combined X% share of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, surging by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per pair in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per pair), while the price for Thailand ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :