According to the Export Promotion Bureau of the Government of Bangladesh, in the first quarter of fiscal 2023-2024, total leather exports decreased by 18.44%, on a comparable basis to the same period of last year, reaching 267.49 million US dollars. The figure was 12.18% lower than the strategic target set for the period of 304.58 million US dollars.

However, it was the leather footwear segment that took the biggest hit. From July to September, Bangladeshi’s leather footwear exports amounted to 141.83 million US dollars, which reflects a decline of 32.77%, as compared to the same period of the previous fiscal year. This figure was also down by 15.96% from the strategic target set for the period of 168.76 million US dollars.  

Meanwhile, leather goods exports increased by 11.30% year-over-year in the first three months of the current fiscal year, reaching 91.82 million US dollars; nevertheless, this figure was 12.85% lower than the strategic target set for the period (105.36 million US dollars). On the other hand, finished leather exports were down by 1.94% from the same period of the prior fiscal year, totalling 33.85 million US dollars, but above the strategic target set for the period (30.46 million US dollars) by 11.13%.

The compiled data also shows that other footwear exports declined by 1.01% in the first quarter of the fiscal year, on a comparable basis to a similar period of last fiscal year, amounting to 124.07 million US dollars. This value was only lower than the strategic target set for the period by 0.02%.

Bangladeshi Footwear Industry

Bangladesh has emerged as one of the top 10 producers of footwear globally, according to the World Footwear 2023 Yearbook (more information available HERE). In the past decade, its exports have grown rapidly, with a further 20% increase recorded in 2022. Bangladesh primarily exports to the US and European markets and imports almost exclusively from China.