Difficult period for the German shoe industry
Germany sees footwear imports decline in 2024, with Vietnam overtaking China as top supplier. Higher wages, inflation and political uncertainty add to challenges shaping the footwear industry's outlook for 2025, writes Worldfootwear.com.
The value of German shoe exports reached approximately €10,4 billion in 2024, up 3% from €10,1 billion in 2023. Poland and France remained the key export destinations. Exports to France increased slightly by 1,4% in 2024, while exports to Poland showed a more significant increase of 4,8% over the same period.
Shoe imports to Germany fell by 1,7%, from €11,9 billion in 2023 to €11,7 billion in 2024. Notably, Vietnam became the leading source of imports with a value of €2,6 billion, overtaking China, which accounted for €2,5 billion. This shift is attributed to the robust demand for sneakers and sports shoes.
Consumer prices for footwear increased by 5,51% in 2024, lower than the 7,21% increase in 2023, but still higher than the overall inflation rate of 2,2%. At the production level, prices increased by 0,79%, slightly lower than the 1,43% increase seen in 2023.
Germany's economy faces continued recessionary pressure, with the country's GDP set to shrink by 2024% in 0,2. Growth forecasts for 2025 have been revised downwards, indicating continued challenges for the retail sector. However, certain market segments such as athletic shoes and flip-flops and other barefoot footwear, as well as the luxury goods segment, are expected to perform well.
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