Uruguay: Market for Footwear with Uppers of Textile Materials 2023

Market Size for Footwear with Uppers of Textile Materials in Uruguay

In 2021, after three years of decline, there was significant growth in the Uruguayan market for footwear with uppers of textile materials, when its value increased by 19% to $X. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Uruguay

For the fourth year in a row, Uruguay recorded growth in shipments abroad of footwear with uppers of textile materials, which increased by 6.4% to X tons in 2021. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 143%. Over the period under review, the exports of hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, exports of footwear with uppers of textile materials dropped to $X in 2021. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 115% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then contracted in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of footwear with uppers of textile materials from Uruguay, with a 11% share of total exports. Moreover, exports of footwear with uppers of textile materials to the United States exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was taken by Sweden (X kg), with a 0.4% share.

From 2012 to 2020, the average annual growth rate of volume to the United States stood at +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (0.0% per year) and Sweden (-5.3% per year).

In value terms, the United States ($X) remains the key foreign market for footwear with uppers of textile materials exports from Uruguay, comprising 8.3% of total exports. The second position in the ranking was taken by Singapore ($X), with a 4% share of total exports. It was followed by Costa Rica, with a 0.6% share.

From 2012 to 2020, the average annual rate of growth in terms of value to the United States amounted to +36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (0.0% per year) and Costa Rica (+21.8% per year).

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per ton in 2020, approximately mirroring the previous year. In general, the export price, however, showed a strong expansion. The pace of growth appeared the most rapid in 2015 an increase of 77% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2020, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Brazil ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+10.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Footwear with Uppers of Textile Materials

Imports into Uruguay

In 2021, overseas purchases of footwear with uppers of textile materials were finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of footwear with uppers of textile materials skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 35%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of footwear with uppers of textile materials to Uruguay, with a 77% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. Brazil (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2020, the average annual growth rate of volume from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+17.9% per year) and Brazil (+15.3% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Uruguay, comprising 57% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total imports. It was followed by Brazil, with a 14% share.

From 2012 to 2020, the average annual growth rate of value from China stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+16.8% per year) and Brazil (+12.1% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per ton in 2020, declining by -9.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 13%. The import price peaked at $X per ton in 2017; however, from 2018 to 2020, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Argentina (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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