Bags / Shoes & Accessories

On the occasion of the new financial year (July 2021-2022 June), Bangladesh has set an export target of US$1.03 billion for the leather industry. Judging from the first month of this fiscal year, both leather shoes and finished leather exports have achieved their new export targets, but leather products have failed to meet this month's export targets.

In the first month of this fiscal year (July 2021), Bangladesh's leather industry exports amounted to 90.52 million U.S. dollars, which was equivalent to the export value of the same period last year, slightly higher than 0.6%, and exceeded the expected target of 2.42%.

Leather shoes accounted for 60% of the total export value of the leather industry. The export value of leather shoes in July was 54.22 million U.S. dollars, higher than the export expectation of 53.15 million U.S. dollars.

During the same period, finished leather exports reached 11.07 million U.S. dollars, a year-on-year increase of 34.67% over the previous fiscal year, and exceeded the target set for the month. Leather goods exports were US$25.2 million, an increase of 14.33% compared to July 2020.

The export income of other types of footwear products was 27.38 million US dollars, a decrease of 43.57% from the same period of the previous fiscal year, and the new expected target was not achieved.

According to the "2021 World Footwear Yearbook", Bangladesh is the world's 8th largest producer of footwear products (423 million pairs) and the 9th largest consumer market (366 million pairs) in 2020. Bangladesh's footwear manufacturing is mainly for the domestic market. In 2020, only 72 million pairs of footwear products will be exported, ranking 16th in the world. Over the years, Bangladesh's leather industry exports have continued to grow substantially, but 2020 saw its first decline in a decade.