Bags / Shoes & Accessories

Despite the global economic crisis, in the first five months of this fiscal year, thanks to the increase in buyer orders, the international trade exports of Bangladesh's leather and leather products industry achieved a year-on-year growth of 17.56%. According to the data of Bangladesh Export Promotion Bureau (EPB), since July to November, the export of leather and its products has reached 537.5 million dollars, compared with 456.85 million dollars in the same period last year. Among them, the export income of leather shoes was 328.19 million yuan, up 17.55% year on year, while the income of leather products was 153.74 million yuan, up 26.89% year on year. The export of leather in international trade decreased by 1.61% to 55.57 million US dollars.

Affected by the coronavirus epidemic, the order will decrease in 2020 and 2021, and the leather industry will be severely hit. Later, production resumed quickly. Importers transferred their orders to Bangladesh, and the export of leather and its products and footwear products reached a new high of US $1.25 billion. In addition, due to the surge in demand in winter and before Christmas, the export volume of leather products and leather shoes has continued to rise.

Nasir Khan, general manager of footwear exporter Janis Shoes, said that, however, it was still uncertain whether the current export growth trend would last until the end of this fiscal year, because the global economic crisis triggered by the Russian Ukrainian conflict showed no sign of ending in the short term. Although the export business has increased, it is still lower than expected.

Nasir Khan said: "The coordination ability of the leather industry is insufficient, and the enterprises cannot get the required raw materials and accessories on time, resulting in the failure to deliver on time."

The vice chairman of Bangladesh Leather and Footwear Manufacturers and Exporters Association said that although EPB data showed that the export of shoes and leather products was good, the situation of manufacturers was not optimistic. Due to the increasing global demand for low-cost synthetic shoes, the export of non leather shoes in international trade grew strongly. According to a study, the global synthetic leather market is expected to reach 66.84 billion US dollars by 2030, with an average annual growth of 8%.