HS Code:
The 'With uppers of leather or composition leather' category, typically classified under HS Code 6403, encompasses footwear made with leather or composition leather uppers. This includes a wide range of products such as boots, shoes, and sandals, which are valued for their durability, aesthetic appeal, and premium quality. This category is a significant segment of the global footwear market, often associated with high-end fashion and professional attire. The trade of these products is influenced by factors like raw material availability, labor costs, consumer preferences for sustainable and ethically sourced materials, and varying tariff structures across countries.
Total Trade Volume
USD 25.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 5.2 billion
20.3% of total trade of total trade
Increasing
USD 3.8 billion
14.8% of total trade of total trade
Increasing
USD 3.5 billion
13.7% of total trade of total trade
Stable
USD 2.1 billion
8.2% of total trade of total trade
Increasing
USD 1.9 billion
7.4% of total trade of total trade
Stable
Average Rate
8.5%
Highest Rate
35% (in certain developing markets with protectionist policies for domestic industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand for sustainable and ethically sourced leather
Increased costs for producers but higher consumer willingness to pay premium prices; shift towards certified leather sources
2021-2022
Growth in e-commerce for premium footwear
Expanded market access for exporters, particularly in Asia, with direct-to-consumer sales models gaining traction
2020-2022
Shift towards casual and hybrid footwear designs
Increased demand for leather sneakers and casual shoes, impacting traditional formal footwear trade
2022
The European Union introduced stricter regulations under the EU Green Deal, mandating transparency in leather sourcing and production processes for footwear entering the market.
March 2023
Increased compliance costs for exporters, particularly from developing countries, but potential long-term benefits in market access for sustainable producers
Negotiations under the US-Vietnam trade framework have reduced tariffs on leather footwear imports to the US, boosting Vietnam's export potential.
June 2023
Significant growth in Vietnamโs market share in the US, potentially challenging other exporters like China and India
The Indian government launched a new incentive scheme under the 'Make in India' initiative to boost leather footwear exports, offering subsidies to manufacturers.
January 2023
Expected increase in Indiaโs global trade volume, with a focus on mid-range leather footwear markets in Europe and North America