Worldwide, the average export price of footwear reached 12 dollars in 2023, representing an increase of 3.2% compared to the previous year, in a ranking that continues to be led by Italy (66.6 dollars), followed by Portugal (27.7 dollars).
In terms of volume, in 2023 Portugal produced 81 million pairs of shoeswhich represents a drop of 3.6% compared to the previous year, but which once again reveals a better performance than Italywhich lost 8.6% to 148 million pairs.
“In fact, over the last ten years, Italian production has fallen by 26.7% (from 202 million pairs produced in 2013 to 148 last year), while Portuguese production has increased by 8% (from 75 million pairs in 2013 to 81 in 2023)”, highlights the Portuguese association of the sector (APICCAPS), in a statement detailing the latest World Footwear Yearbook (WFY).
According to the reference statistical publication in this sector, global footwear production fell 6% in 2023, to 22.4 billion pairs, the lowest in the decade, if we exclude the pandemic years of 2020 and 2021.
“The footwear industry continues heavily concentrated in Asiawhere almost 9 out of every 10 pairs of shoes are manufactured, resulting in a share of 87.1% of the world total (compared to 87.4% the previous year)”, highlights APICCAPS, noting that, “even so, in 2023 Europe retreated by just 5%, compared to the 7% loss on the Asian continent”.
“Although 2023 was a particularly difficult year for the footwear sector internationally, the first consolidated signs of ‘nearshoring’ are beginning to appear”, highlights the president of APICCAPS.
For Luis Onofre, “It is clearly a good sign for our companies that, even in a climate of great demand, continue to invest and seek new business opportunities”noting that, “in the last two years, our country has been sought out by brands of undeniable prestige at an international level, which are naturally looking for a reliable partner, with great production quality, excellent service and which is continually investing in the areas of automation, digitalization and even sustainability”.
According to statistics compiled by WFY, China continues to be the world’s largest footwear producer, responsible for the manufacture of 12.3 billion pairs in 2023 and capturing 55% of the global market share, with India increasing its share, now accounting for 11.6% of the world total.
The WFY reports that the drop in global production is directly related to the contraction in consumption in the main global markets, with the United States (down 749 million pairs), China (down 398 million pairs) and the European Union (down 399 million pairs) having together lost almost 1.5 billion pairs.
Exports with significant setback
Last year, global footwear exports amounted to 14 billion pairs, representing a 9.1% drop in volumes traded compared to the previous year. In terms of value, the annual decrease was 6.1%, to $168 billion.
“Amid this challenging scenario, Asian countries consolidated their dominance in the global footwear trade, with their collective share increasing to 84.6%, compared to 83.9% in 2022. On the other hand, Europe’s share contracted slightly to 12.8%”, highlights APICCAPS.
On this front, China stands out as the country of origin for 63.8% of total exports, up from 61.3% in 2022, with Vietnam occupying second place, at a considerable distance (9.5%), followed by Indonesia (3.2%).
Together, according to WFY, these three countries represent more than three quarters of global footwear exports.
Asia is also the largest consumer of footwear
Global footwear consumption also continues to be dominated by Asia, which accounted for more than half (54.7%) of the world total, above the share recorded in the previous year, with Europe and North America following, respectively, with shares of 13.9% and 13.4%.
China remains the main consumer of footwear, although its share of the world total has decreased, now standing at 17.1%.
“By the way” relevant: Consumption in the United States registered a significant reduction, with the country losing the second position it achieved the previous year and swapping places with India.
The European Union, when considered as a region, represents the third largest footwear consumer market, with 1,948 million pairs consumed in 2023, concludes APICCAPS based on WFY statistics.
Source: www.jornaldenegocios.pt
