World

Bangladeshi leather exports ahead of strategic growth targets

Feb 17, 2022 Bangladesh

In the first seven months of the current fiscal year, the Bangladeshi leather industry reported growth across all segments, generating a total revenue of 682.74 million US dollars

From July 2021 to January 2022, Bangladeshi leather exports increased by 29.66%, on a comparable basis to the same period of the prior financial year*. The exports level was above the strategic target of 602.84 million US dollars by 13.25%. Leather footwear exports represented 60.71% of the total value generated.

In the seven months to January 2022, leather footwear exports generated 414.52 million US dollars, up by 25.79%, as compared to similar period in the prior financial year. The performance of leather footwear also exceed the set target (362.52 million US dollars) for the period by 14.34%.

Leather goods exports amounted to 183.43 million US dollars, rising by 37.41% from the same period of the last fiscal year, and 11.84% over the established target set of 164.01 million US dollars. It were also sent abroad finished leather exports at the value of 84.79 million US dollars, up by 33.42% from similar period of the previous financial year, and over the established target set by 11.11% (76.31 million US dollars).

Other footwear exports generated revenue of 249 million US dollars in the first seven months of the current financial year, which reflects an increase of 25.84%, on a comparable basis to period of July 2020 – January 2021. The export level for the period was also above the established target set of 233.89 million US dollars (up by 6.46%).

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. Exports of Bangladesh 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: Salman Preeom on Unsplash

Bangladesh Exports Footwear International Trade Leather Leather goods Trade