Trade

Bangladesh: leather exports continue on growing mode

Apr 7, 2022 Bangladesh

In the first nine months of the current fiscal year, the Bangladeshi leather industry reported growth across all segments, remaining ahead of its strategic growth targets

From July 2021 to March 2022, Bangladeshi leather exports increased by 30.95%, as compared to the same period of the prior fiscal year*, generating 896.8 million US dollars. The exports level was 16.07% above the strategic target of 772.61 million US dollars.

Leather footwear exports amounted to 538.98 million US dollars in the first nine months of the current fiscal year, which indicates growth of 27.86%, on a comparable basis to similar period of the previous financial year. The value, which represents 60.1% of the total revenue reported, exceeds the target set for this period (464.62 million US dollars) by 16%.

In the nine months to March 2022, leather goods exports totalled 242.0 million US dollars, rising by 34.41% from the same period of the past fiscal year. The performance of this segment was above the strategic target of 210.20 million US dollars by 15.13%. It were also shipped finished leather exports at the value of 115.82 million US dollars, up by 39.07% from similar period of the previous financial year, and over the established target set (97.79 million US dollars) by 18.44%.

Other footwear exports generated revenue of 338.86 million US dollars in the first nine months of the current fiscal year, which reflects an increase of 36.43%, on a comparable basis to the period of July 2020-January 2021. The export level was 13.05% above the established target set for the period of 299.75 million US dollars.

Bangladeshi Footwear Industry

According to the World Footwear 2021 Yearbook (AVAILABLE HERE), in 2020, Bangladesh was the 8^th largest footwear producer (423 million pairs) and 9^th largest consumer market (366 million pairs). Most of its production supplies the domestic market: only 72 million pairs were exported in 2020 (making it the 16^th largest exporter of footwear). Bangladeshi exports have been growing consistently and sharply for years, but dropped in 2020 for the first time in a decade.

*Bangladesh’s financial year runs from July to June

Image Credits: Hasnan Monir on Unsplash

Bangladesh Exports Footwear International Trade Leather Leather goods Shoes