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Bangladesh leather industry on track with target, but performance differs by category

Mar 25, 2021 Bangladesh
Bangladesh leather industry on track with target, but performance differs by category
The Bangladesh's leather industry has a target set for the current financial year of 920.00 million US dollars, and in the first eight months, the industry has met the target set for the period (602.06 million US dollars)
In the first eight months of the current financial year (July 2020 - February 2021) the leather industry in Bangladesh has exported 605.67 million US dollars, down by 4.15% from similar period in the previous year.

Main contributing category was leather footwear, with exports with a global value of 377.34 million US dollars in the period July 2020-February 2021, and the target for the period met by 6.78%.

All other categories have missed the targets set for the period.

Finished leather
exports generated 73.4 million US dollars in the first eight months of the year, down by 12.87% from similar period in the previous fiscal year, and missing the target set for the period by 2.47%. Leather goods contributed with 154.94 million US dollars, down by 9.42% from the performance in similar period in the previous fiscal year, and also missing the target set by 10.66%.

Revenue generated by exports of other footwear (218.84 million US dollars) was in line with the performance in the previous year, but missing the target set for the category in the period (-12%).

The Bangladesh Footwear Industry in 2019

According to the World Footwear 2020 Yearbook (AVAILABLE HERE) in 2019 Bangladesh was the 8th largest footwear producer (407 million pairs). The manufacturing industry in the Asian country is much orientated to the internal market with only 79 million pairs exported in 2018 (making this the 18th largest exporter of footwear). More information about the World Footwear 2020 Yearbook HERE.

Bangladesh’s financial year runs from July to June

Image credits: Shaah Shahidh on Unsplash

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