Iceland: Footwear Market 2020

Footwear Market Size in Iceland

The revenue of the footwear market in Iceland amounted to $X in 2018, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, footwear consumption, however, continues to indicate a slight contraction. The growth pace was the most rapid in 2017 when the market value increased by X% year-to-year. Over the period under review, the footwear market attained its maximum level at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Footwear Exports

Exports from Iceland

In 2018, approx. X pairs of footwear were exported from Iceland; increasing by X% against the previous year. Over the period under review, footwear exports, however, continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. In that year, footwear exports attained their peak of X pairs. From 2013 to 2018, the growth of footwear exports remained at a lower figure.

In value terms, footwear exports amounted to $X in 2018. In general, footwear exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. In that year, footwear exports attained their peak of $X. From 2013 to 2018, the growth of footwear exports remained at a lower figure.

Exports by Country

China dominates footwear exports structure, resulting at X pairs, which was approx. X% of total exports in 2018. It was distantly followed by Vietnam (X pairs), comprising a X% share of total exports. Germany (X pairs), Belgium (X pairs), Italy (X pairs), Indonesia (X pairs), Turkey (X pairs), India (X pairs), the Netherlands (X pairs), Spain (X pairs) and the UK (X pairs) occupied a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to footwear exports from China stood at -X%. At the same time, the UK (+X%), Turkey (+X%), Vietnam (+X%), India (+X%), the Netherlands (+X%), Indonesia (+X%), Spain (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Belgium and Italy experienced a relatively flat trend pattern. Vietnam (+X p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest footwear supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of global exports. It was followed by Italy, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+X% per year) and Italy (+X% per year).

Export Prices by Country

The footwear export price in Iceland stood at $X per pair in 2018, dropping by -X% against the previous year. Over the period under review, the footwear export price continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2009 an increase of X% year-to-year. Iceland export price peaked at $X per pair in 2010; however, from 2011 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per pair), while Turkey ($X per pair) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Footwear Imports

Imports into Iceland

In 2018, the footwear imports into Iceland stood at X pairs, picking up by X% against the previous year. Over the period under review, footwear imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, footwear imports attained their peak figure at X pairs in 2011; however, from 2012 to 2018, imports remained at a lower figure.

In value terms, footwear imports amounted to $X in 2018. Over the period under review, footwear imports, however, continue to indicate a slight descent. The pace of growth appeared the most rapid in 2017 when imports increased by X% y-o-y. Over the period under review, footwear imports reached their maximum at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, the U.S. (X pairs), distantly followed by Germany (X pairs) and the UK (X pairs) represented the largest importers of footwear, together comprising X% of total imports. The following importers - Japan (X pairs), France (X pairs), Italy (X pairs), Russia (X pairs), the Philippines (X pairs), India (X pairs), the United Arab Emirates (X pairs), Belgium (X pairs) and Saudi Arabia (X pairs) - together made up X% of total imports.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, the Philippines (+X%), Saudi Arabia (+X%), India (+X%), Russia (+X%), Germany (+X%), Belgium (+X%), the United Arab Emirates (+X%) and the UK (+X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Japan and Italy experienced a relatively flat trend pattern. By contrast, France (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of the Philippines, India, Germany and Saudi Arabia increased by +X%, +X%, +X% and +X% percentage points, while the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X), Germany ($X) and France ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports. The UK, Italy, Japan, Russia, Belgium, the United Arab Emirates, the Philippines, India, Saudi Arabia and Iceland lagged somewhat behind, together accounting for a further X Philippines experienced the highest rates of growth with regard to imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the footwear import price in Iceland amounted to $X per pair, reducing by -X% against the previous year. In general, the footwear import price continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2012 when the import price increased by X% year-to-year. Over the period under review, the import prices for footwear attained their maximum at $X per pair in 2007; however, from 2008 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was France ($X per pair), while India ($X per pair) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced more modest paces of growth.

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