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Bangladesh: leather industry below exports target

Jun 11, 2019 Bangladesh
Bangladesh: leather industry below exports target
Notwithstanding the good performance of leather footwear exports, the leather industry as a whole registered a decline of 8.69% in revenue in the first 10 months of the year. The industry is below the target set for exports
In the first ten months of the current fiscal year (July 2018-April 2019), Bangladesh’s leather industry registered a drop in exporting revenue of 8.69%, when compared to similar period in the previous year. Over that period, the leather industry recorded exports revenue of 837.07 million US dollars, falling short of the export target of 919.63 US dollars set by the country's government for the period (91.02%).

Finished leather exports generated 147.09 million US dollars, down by 5.68% from similar period in the previous year. Leather goods contributed with 198.94 million US dollars, losing roughly one third of the revenue generated last year in similar period (decline of 33.93%).  On a positive note, leather footwear exports increased its value by 6.72%, generating 491 million US dollars over the period.

Revenue coming from exports of finished leather (97.70%) and leather products (71.51%) was below the goal set for the period, while footwear managed to meet the target (100%).

Exports of other footwear (non-leather) increased by 5.89% in the first ten months of the fiscal year and are 2.19% over the target set for the period.

Bangladesh’s government has set the leather industry an export target of 1.12 billion US dollars for the leather sector in the financial year ending July 2019. Looking at the performance in the first 10 months of the financial year, the industry is below the target by 8.98%.

Bangladesh’s financial year runs from July to June

Photo by Nishant Kirar on Unsplash

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