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Footwear is good news in Bangladesh

Jan 15, 2019 Bangladesh
Footwear is good news in Bangladesh
According to the Leathergoods & Footwear Manufacturers & Exports Association of Bangladesh, in the first 5 months of the year exports revenue of the leather and footwear industries as a whole underperformed according to the targets set. However, exports of footwear managed to grow in the period
The footwear and leather industry in Bangladesh has set an overall export target for thir products of 636.19 million USD for the first 5 months of the financial year. This was underachieved by 9.62 million USD with an overall export performance of 626.57 million USD.

The major decline happened in the leather category with a negative growth rate of -29.81% compared to the same period of last fiscal year, when export earnings of only 80.61 million USD were achieved compared to projected export target was 92.54 million USD.

Similarly, the leather goods category had a negative growth rate of -0.77% compared to the same period of last fiscal year, which has achieved export earnings of 184.73 million USD, when the projected target was 208.21 million USD.

On the positive side, footwear (leather and non-leather) achieved positive growth, leather footwear had a positive growth of 8.55% and export earnings was 252.81 million USD, which is 21.47 million surplus than the targeted export earnings. Also, non-leather footwear and footwear accessories achieved a positive growth rate of 6.28% with export earnings of 108.42 million USD, which is 4.32 million surplus compared to the targeted export earnings accordingly.

Data Source: Leathergoods & Footwear Manufacturers & Exports Association of Bangladesh

Bangladesh’s financial year runs from July to June

Photo by Ali Yahya on Unsplash

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