Bags / Shoes & Accessories

For the first time since the outbreak of the epidemic, Bangladesh's exports of leather and its products and footwear exceeded the US$1 billion mark, with exports of US$1.25 billion in the 2021-2022 fiscal year, a year-on-year increase of more than 32%.

According to Bangladesh Export Promotion Bureau (EPB) data, leather and leather goods products increased by 9.82% year-on-year to US$99.41 million, compared with US$90.52 million in the same period last fiscal year. In addition, from January to June 2022, the export revenue of leather and its products and footwear was 667.39 million US dollars, an increase of 35% over the same period last year.

Ibnul Wara, managing director of Austan Limited, told TBS: "As the world economy enters a recession, if growth figures slow or even decline in the coming months and don't expect to see a decline in growth data Not surprising. Compared to 2021, the leather industry grew by less than 10% in July 2022, and leather products started to show negative growth.”

Inur Walla added that this year's Christmas sales in Europe and the US will play a key role in whether we can achieve our export target of US$1.44 billion this financial year. The global leather industry is worth nearly 400 billion US dollars, of which Bangladesh's share is less than 1%. Therefore, Bangladesh's leather industry exports still have great potential for growth.

“If we can take advantage of the recent shift in global sourcing and attract more foreign direct investment (FDI), we will be able to achieve $10 billion in exports. Given Bangladesh’s abundant raw hide resources, leather, leather goods and shoes It has unique conditions to attract foreign direct investment. However, environmental compliance will become the most important factor for the leather industry to attract foreign direct investment. The key to environmental compliance is to establish a fully functional CETP (Central Wastewater Treatment Plant), through international cooperation At the same time, it can increase the added value of leather product exports.”