Trade

Bangladeshi leather exports miss strategic targets set

Mar 22, 2023 Bangladesh

From July to February 2023, the Asian country's total leather exports totalled 832.4 million US dollars, up by 6.05% year-over-year, but down by 9.98% from the target set for the period

The data from the Export Promotion Bureau of the Government of Bangladesh shows in the first eight months of the fiscal year leather footwear exports increased by 2.48%, reaching 486.82 million US dollars, as compared to the same period of last fiscal year. Still, this amount failed to meet the strategic target set for the period of 526.55 million US dollars by 7.55%.

As of the 28^thof February, Bangladeshi leather goods exports added 259.87 million US dollars to the total leather exports, up by 23.94% over a similar period of the prior year, but down by 8.02% from the strategic target set for the period of 282.54 million US dollars. Finished leather exports, instead, declined by 14.55% in the first eight months of the year to 85.68 million US dollars, year-over-year, missing the strategic target set of 115.58 million US dollars by 25.87%.

In the first eight months of the current financial year, other footwear exports grew by 8.11%, amounting to 314.03 million US dollars, on a comparable basis to the same period of the previous fiscal year. This segment, however, also failed to reach the strategic target set for the period of 333.91 million US dollars by 5.95%.

Bangladeshi Footwear Industry

Bangladesh, whose exports returned to growth in 2021, is the 16^th exporter in the world and can be found among the top 10 producers and consumers of footwear, says the World Footwear 2022 Yearbook (more information available HERE). The US and some EU countries are currently the main markets for this country's shoes.

Image Credits: Nucleyar on Unsplash

Bangladesh Exports Footwear International Trade Leather Shoes