Trade

Bangladeshi leather exports decline

Sep 12, 2023 Bangladesh

From July to August, Bangladesh posted a 12.73% decline in leather exports, as compared to the same period of last fiscal year. Only the leather goods segment grew in the period

According to the Export Promotion Bureau of the Government of Bangladesh, in the first two months of fiscal 2023-2024, total leather exports amounted to 194.8 million US dollars, which represents a decline of 12.73%, on a comparable basis to the same period of the previous year. The figure recorded was also down by 4.32% from the strategic target set for the period of 203.6 million US dollars.

By segment. Between July and August, leather footwear exports generated 112.1 million US dollars, declining by 23.52%, as compared to the same period of fiscal 2022-2023; they also missed the strategic target set for the period by 0.66%. In addition, finished leather exports totalled 20.3 million US dollars, down by 12.57% from a similar period of last fiscal year and by 0.25% from the strategic target set for these two months.

As for leather goods exports. In the first two months of the current fiscal year, exports in this segment reached 62.5 million US dollars, up by 16.79%, on a comparable basis to a similar period of the prior year, but were down by 11.33% from the strategic target set for the period of 70.4 million US dollars.

The data also shows that other footwear exports increased by 6.52% to 79.9 million US dollars but fell short of the strategic target set for the period by 3.7%.

Bangladeshi Footwear Industry

The World Footwear 2023 Yearbook (more information available HERE) shows that the country is now one of the top 10 producers of footwear globally. Over the past decades, its exports, mainly to the US and European markets, have experienced rapid growth with another 20% increase recorded in 2022.

Image Credits: Towfiqu barbhuiya on Unsplash

Bangladesh Exports Footwear International Trade Leather