Over the past decade, Malaysia has seen a steady increase in the import of Footwear, Gaiters, and Parts Thereof, with a significant value standing at USD 875.02 million in 2023. From 2013 to 2023, the year-on-year growth has varied, with notable peaks in 2015 and 2016 and more stable growth in the recent years leading up to 2023. The Compound Annual Growth Rate (CAGR) reflects a robust overall rising trend, averaging 8.8% from 2013 to 2023, although with a lower CAGR of 4.71% in the latter five years.
The years 2021 and 2022 marked a slight acceleration in growth, with percentages of 10.43% and 4.58% respectively. Forecast data from 2024 onwards anticipates continued growth, albeit at a more moderate pace, with a forecast five-year CAGR of 2.82% and a total forecast growth rate of 14.9% by 2028, suggesting a more stable yet positive outlook.
Trends to watch for in the future include:
- The impact of global economic conditions on import demand.
- Changes in consumer preferences and increased demand for specialized or high-tech footwear.
- Potential trade policies affecting import tariffs and regulations.
- Advancements in footwear technology and materials.
