Bags / Shoes & Accessories

Since the outbreak of the epidemic, the export of leather and its products and footwear in Bangladesh has exceeded the US $1 billion threshold for the first time. According to the import and export data, the export will reach US $1.25 billion in the fiscal year 2021-2022, with a year-on-year growth of more than 32%.

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

Ibnul Wara, the general manager of Austan Limited, said in an interview: "As the world economy enters a recession, it is not surprising that the growth data will slow down or even decline in the coming months. The import and export data show that the leather industry will grow less than 10% in July 2022 compared with 2021, and the leather products will begin to show a negative growth."

Inur Vara added that this year's Christmas sales in Europe and the United States will play a key role in whether we can achieve the export target of $1.44 billion this fiscal year. The global leather industry is worth nearly 400 billion dollars. The import and export data show that Bangladesh's share is less than 1%. Therefore, the export of Bangladesh's leather industry still has great growth potential.

"If we can make good use of the recent transfer of global procurement and attract more foreign direct investment (FDI) We will be able to realize the export of 10 billion US dollars. In view of Bangladesh's rich raw leather resources, leather, leather goods and footwear have 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 (Centralized Wastewater Treatment Plant), which has passed the international compliance certification, and at the same time, can improve the added value of international trade and export of leather products. "