Bags / Shoes & Accessories

Since the outbreak of the epidemic, Bangladesh's international trade exports of leather and its products and footwear have exceeded the US$1 billion mark for the first time, and exports will reach US$1.25 billion in the 2021-2022 fiscal year, a year-on-year increase of more than 32%.

According to the data of Bangladesh Export Promotion Bureau (EPB), 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 to June 2022, the international trade 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, said: "As the world economy enters a recession, it would not be surprising if growth figures slow or even decline in the coming months. Compared with 2021, the growth of the leather industry in July 2022 will be less than 10%, and leather products will begin to show negative growth."

Inur Wara added that this year's Christmas sales in Europe and the United States will play a key role in whether we can achieve the US$1.44 billion international trade export target for this fiscal 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 still has great potential for growth in international trade exports.

“If we can take advantage of the recent shift in global procurement and attract more foreign direct investment (FDI), we will be able to achieve $10 billion in exports. Given Bangladesh’s rich raw hide resources, leather, leather goods and shoes However, environmental protection compliance will become the most important factor in attracting foreign direct investment in the leather industry. The key to environmental protection compliance is to establish a fully functional CETP (Centralized Wastewater Treatment Plant), through international compliance At the same time, it can increase the added value of international trade export of leather products.”