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Bangladesh’s leather industry with declining quarter

Oct 20, 2020 Bangladesh
Bangladesh’s leather industry with declining quarter
In the first 3 months of the current year, Bangladesh’s leather industry registered a total of 225.15 million US dollars’ worth of exporting revenue, which represented a decline of 11.49% over the performance in similar period in the previous fiscal year
The leather industry has a target set for the current financial year of 920.00 million US dollars, and in the first three months, the industry has over met the target set for the period (216.76 million US dollars) by 3.87%.

Finished leather exports generated 23.80 million US dollars in the first three months of the year, down by 22.45% from similar period in the previous fiscal year, and missing the target set for the period by 12.18%. Leather goods contributed with 53.00 million US dollars, down by 17.79% from the performance in similar period in the previous fiscal year, and also missing the target set by 15.122%. Leather footwear exports registered a decline of 6.38%, generating 148.36 million US dollars over the period. Leather footwear was the category contributing the most to the exports revenue of the leather industry with a 65.89% share.

Revenue generated by exports of other footwear (102.04 million US dollars) increased by 23.73% compared to the previous year, performing above the target set for the category in the period (+13.97%).

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: CHUTTERSNAP on Unsplash

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