Consumption increase in Asian manufacturing countries, a growth of exportation along with the inflation of export prices are the three main reasons that influenced the growth of exportation and importation in the footwear industry in 2017, which reached 23.5 billion pairs.
With most of its production located in Asia (87%), the footwear industry has started recovering and countering its two-year-long fall regarding the import and export, with the latest growing by 0.7% regarding quantity and by 3.7% regarding value.
With 2 out of 3 pairs of shoes made in China, the country is also the first on the list of the largest consumers of footwear. India has just recently stolen USA’s second place on the market, which makes Asia the biggest consumer by far (54%), followed by Europe (16%) and North America (15%). However, Europe counts 36.7% of the global market and is the most significant footwear importer with over half of the world’s import.
Nevertheless, Asia detains the fastest increase in export prices by over 60% in the same period and the highest increase in export price growing by 62% in China in the last ten years.
FOOTWEAR INDUSTRY CONTINUES TO GROW
