China’s share of US footwear market hits 15-year low
10/02/2016
Annual imports rose 5.8% in value and 5.7% in volume to reach records, the fastest paces in the last four and five years, respectively.
Vietnam expanded its share the most, up 21.9% for the year to $4.3 billion in value.
China remains the largest supplier to US consumers, but the country saw its annual share slide again to just 66%, a 15-year low. In 2014, it had supplied nearly 80%.
Athletic footwear imports rose 11.6%, children's footwear imports rose 8.6% and imports of boots increased 2.1%.
“Our analysis of 2015 footwear import data shows the Trans Pacific Partnership (TPP) has grown substantially in importance to the footwear industry,” said Matt Priest, president of Footwear Distributors & Retailers of America (FDRA).
“Based on these numbers, TPP would save our industry half a billion dollars in duties the first year of implementation. The data also shows growth in both athletic as well as leather footwear from Vietnam. This confirms what we have been hearing from on the ground - that more and more companies from all product categories are starting to manufacture there, meaning TPP would provide real relief to our industry’s $2.9 billion annual duty bill as well as lower the cost of footwear for millions of middle class American families."
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