The average footwear price stood at $14 per pair in August 2022, with an increase of 3.3% against the previous month. Over the last seven-month period, it increased at an average monthly rate of +4.4%. The pace of growth appeared the most rapid in April 2022 when the average import price increased by 12% m-o-m. Over the period under review, average import prices reached the maximum in August 2022. There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was India ($19 per pair), while the price for China ($9.5 per pair) was amongst the lowest. From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Footwear Import Prices by Type Prices varied noticeably by the product type; the product with the highest price was leather footwear ($24 per pair), while the price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($9 per pair) was amongst the lowest. From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (+6.2%), while the prices for the other products experienced more modest paces of growth. U.S. Footwear Imports Footwear imports into the United States totaled 204M pairs in August 2022, increasing by 1.7% on the previous month. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 with an increase of 14% month-to-month. As a result, imports reached the peak of 244M pairs. From April 2022 to August 2022, the growth of imports remained at a somewhat lower figure. In value terms, footwear imports rose markedly to $2.8B (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +3.7% over the period from January 2022 to August 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in March 2022 with an increase of 18% m-o-m. Over the period under review, imports hit record highs in August 2022. U.S. Footwear Imports by Type Footwear with uppers of textile materials (74M pairs), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (67M pairs) and leather footwear (60M pairs) were the main products of footwear imports to the United States, together accounting for 99% of total imports. These products were followed by waterproof footwear, which accounted for a further 0.9%. From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by waterproof footwear (with a CAGR of +7.5%), while imports for the other products experienced more modest paces of growth. In value terms, leather footwear ($1.5B) constituted the largest type of footwear supplied to the United States, comprising 53% of total imports. The second position in the ranking was taken by footwear with uppers of textile materials ($675M), with a 24% share of total imports. It was followed by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap, with a 22% share. U.S. Footwear Imports by Country In August 2022, China (131M pairs) constituted the largest supplier of footwear to the United States, accounting for a 64% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (40M pairs), threefold. The third position in this ranking was held by Indonesia (11M pairs), with a 5.5% share. From January 2022 to August 2022, the average monthly growth rate of volume from China amounted to -2.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (+4.5% per month) and Indonesia (+1.4% per month). In value terms, China ($1.2B), Vietnam ($708M) and Indonesia ($174M) were the largest footwear suppliers to the United States, together accounting for 77% of total imports. Among the main suppliers, Vietnam, with a CAGR of +8.2%, recorded 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.
