Footwear Market Overview in Cyprus
In value terms, footwear production totaled $ in 2018 estimated in export prices. Over the period under review, footwear production, however, continues to indicate a deep drop. The pace of growth appeared the most rapid in 2015 when production volume increased by % y-o-y. Over the period under review, footwear production attained its peak figure level at $ in 2007; however, from 2008 to 2018, production failed to regain its momentum.
The revenue of the footwear market in Cyprus amounted to $ in 2018, growing by % against 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 continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2014 when the market value increased by % y-o-y. Cyprus footwear consumption peaked at $ in 2008; however, from 2009 to 2018, consumption remained at a lower figure.
From 2007 to 2018, the most notable rate of growth in terms of footwear consumption, amongst the main consumed products, was attained by waterproof footwear, while footwear consumption for the other products experienced mixed trends in the consumption figures.
In value terms, footwear with uppers of leather ($), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($) and footwear with uppers of textile materials ($) appeared to be the products with the highest levels of market value in 2018, together comprising % of the total market. These products were followed by waterproof footwear, which accounted for a further %.
In terms of the main consumed products, waterproof footwear recorded the highest growth rate of market size, over the period under review, while footwear market for the other products experienced more modest paces of growth.