Trade

Bangladesh: leather exports register a small growth

Apr 28, 2023 Bangladesh

From July to March 2023, Bangladeshi’s total leather exports increased only by 2.56% year-over-year, reflecting a deceleration in the category exports since the start of the year

According to the Export Promotion Bureau of the Government of Bangladesh, the country's total leather exports totalled 919.7 million US dollars in the first nine months of the current fiscal year, up by 2.56% from the same period last year and down by 12.35% from the strategic target set for the period of 1.05 billion US dollars.

Leather footwear exports amounted to 534.2 million US dollars in the first three quarters of the year, representing roughly 58% of the total exported. This figure indicates, however, a decline of 0.88% as compared to a similar period in the prior year, falling short of the strategic target set of 597.5 million US dollars by 10.59%. Finished leather exports also declined in these nine months by 19.50% year-over-year to 93.2 million US dollars, down from the strategic target set of 131.6 million US dollars by 28.91%.

On the contrary, leather goods exports rose by 20.77% from July through March, adding 292.3 million US dollars to the category's total revenue, on a comparable basis to the same period in the previous fiscal year Still, the performance of this segment remained below the strategic target set for the period of 320.6 million US dollars by 8.85%.

The data also shows that in the first nine months of the current fiscal year, other footwear exports increased by 5.73%, reaching 358.3 million US dollars, as compared to a similar period last year. Like the aforementioned segments, it also failed to meet the strategic target set for the period by 5.45% (378.9 million US dollars).

Bangladeshi Footwear Industry

The World Footwear 2022 Yearbook (more information available HERE) shows that Bangladesh is currently the 16^th exporter in the world and can be found among the top 10 producers and consumers of footwear. The US and some EU countries are currently the main markets for this country's shoes.

Image Credits: bangladeshus.com

Bangladesh Exports Footwear International Trade Leather