Trade

Bangladeshi leather footwear exports exceed strategic target set

Dec 16, 2022 Bangladesh

From July through November 2022, leather footwear exports were the only ones among the leather sector to exceed the strategic target set for the period, whereas all the others fell short

According to the Export Promotion Bureau of the Government of Bangladesh, in the first five months of the current financial year*, the country's overall leather exports grew by 17.65%, reaching 537.50 million US dollars, as compared to the same period of the previous year; however, this figure did not reach the strategic target set of 540.50 million US dollars for the period (down by 0.56%).

Meanwhile, leather footwear exports, which accounted roughly for 61% of the total value exported, amounted to 328.19 million US dollars, which reflects an increase of 17.55%, on a comparable basis to the same period of last year. In addition, this performance exceeded the strategic target set of 307.78 million US dollars by 6.63%.

As of the 30^th of November 2022, Bangladeshi leather goods exports totalled 153.74 million US dollars, up by 26.89%, as compared to the same period of the prior fiscal year, but failed to meet the strategic target set for the period of 165.15 million US dollars (down by 6.91%). Finished leather exports, in turn, declined by 1.61% in this period, year-over-year, adding 55.57 million US dollars to the total value exported, and were down from the target set by 17.75% (67.56 million US dollars).

In the first five months of the current financial year, other footwear exports rose by 19.44%, reaching 209.50 million US dollars, on a comparable basis to the period of July 2021 – November 2021. This export level was 7.34% ahead of the strategic target set for the period of 195.18 million US dollars.

Bangladeshi Footwear Industry

According to the World Footwear 2022 Yearbook (more information available HERE), Bangladesh, whose exports returned to growth in 2021, is the 16^thexporter in the world and is among the top 10 producers and consumers of footwear. The US and some EU countries are currently the main markets for The US and the EU are the main markets for Bangladeshi shoes.

*Bangladesh's financial year runs from July to June

Image Credits : Ahnaf Tahsin Rafi on Unsplash

Bangladesh Exports Footwear International Trade Leather Shoes