The forecasted import values for machinery used in making or repairing footwear show a steady decline from 2024 to 2028. In 2024, the value stands at 683s, decreasing to 639s in 2025, 596s in 2026, 554s in 2027, and finally 513s in 2028. Comparing these figures year-on-year, there is a consistent reduction in import value, indicating a negative growth trend. Given that the base year, 2023, had higher import values, the Compound Annual Growth Rate (CAGR) over these five years is negative, underscoring a steady downturn.
Future trends to watch for include potential changes in domestic manufacturing capabilities, which might influence imports, technological advancements in footwear machinery, and trade policies affecting cost structures. Additionally, shifts in consumer demand towards sustainable or custom footwear could impact import patterns.
