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Chinese leather industry grows in the first half

Sep 6, 2022 China
Chinese leather industry grows in the first half
Data from China's Ministry of Industry and Information Technology indicates a steady growth in the leather industry in the first half of 2022
From January to June of the current year, the combined operating revenue of major manufacturers of leather, fur, and related products, as well as footwear (companies with annual revenues of 20 million yuan and above) amounted to 551.12 billion yuan (approximately 82 billion US dollars). This figure reflects an increase of 6.5%, as compared to the same period of last year.

The information provided by the Ministry also shows that Chinese companies in the sector accumulated 24.97 billion yuan of profits, down by 0.8% year-over-year.

Exports

According to the China Leather Industry Association, in the first seven months of 2022, Chinese leather exports increased by 29.6%, on a comparable basis to the same period of the prior year, reaching 60.51 billion US dollars. Leather exports accounted for 2.93% of the total national exported. Simultaneously, the total import value declined by 10.5% year-on-year, totalling 10.27 billion US dollars, and representing 0.65% of the total value imported.

The trade surplus recorded from January to July has then reached 50.24 billion US dollars, up by 42.7% on a comparable basis to the same period of 2021, accounting for 10.42% of the total Chinese trade surplus. 


Image Credits: YoHa Lee on Unsplash


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