The import of Footwear With Uppers of Leather to the Philippines shows a steady increase from 2024 to 2028, starting at $57.7 million in 2024 and rising to $64.154 million in 2028. As of 2023, the value stood at approximately $56 million. The year-on-year variation from 2024 to 2025 is around 2.88%, from 2025 to 2026 is about 2.74%, from 2026 to 2027 is 2.61%, and from 2027 to 2028 is approximately 2.50%. The compound annual growth rate (CAGR) over the last five years is projected to be about 2.55%.
Future trends to watch for include the impact of changing fashion trends, economic conditions, and potential trade regulations or tariffs. Additionally, the increasing focus on sustainable and ethical production practices could influence the types of leather footwear imported and the market dynamics within the Philippines.
