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Bangladesh’s leather exports down by double digits

Sep 16, 2020 Bangladesh
Bangladesh’s leather exports down by double digits
Total exports of the leather industry in Bangladesh in the first two months of the current fiscal year were on red, declining by 16.54% compared to the previous year. Exports of other footwear increased by 28.32%
In the first two months of the current financial year, the Bangladesh’s leather industry registered a total of 154.74 million US dollars’ worth of exporting revenue, which represented a decline of 16.54% over the performance in similar period in the previous fiscal year. The leather industry has a target set for the current financial year of 920 million US dollars, and in the first two months, the industry has over met the target set for the period of 152.81 million US dollars by 1.26%.

Finished leather exports generated 15.79 million US dollars in the first two months of the year, down by 29.04% from similar period in the previous fiscal year, and missing the target set for the period by 18.90%. Leather goods contributed with 34.02 million US dollars, down by 22.94% from the performance in similar period in the previous fiscal year, and also missing the target set by 22.72%. Leather footwear exports registered a decline of 11.89%, generating 105.23 million US dollars over the period. Leather footwear was the category contributing the most to the exports revenue of the leather industry with a 64.41% share.

Revenue generated by exports of other footwear (57.63 million US dollars) increased by 28.32% compared to the previous year, performing above the target set for the category int he period (+17.16%).

The 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: chuttersnap on Unsplash


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