In the first five months of the current fiscal year (July-November 2021*), Bangladeshi leather industry exports increased by 27.41%, totalling 456.85 million US dollars, on a comparable basis to the same period of last year. The exports level for the period was above the set target of 414.11 million US dollars (up by 10.32%). Leather footwear exports represented 61.11% of the total value generated.
Thus, in the five months to November 2021, leather footwear exports generated 279.20 million US dollars, which reflects growth of 23.08%, as compared to similar period of the prior year. The performance of the leather footwear segment also exceeded the set target (249.03 million US dollars) for the period by 12.12%.
Finished leather exports totalled 56.48 million US dollars, up by 28.77% from similar period in the previous fiscal year, and over the target set for the period by 7.75%. It were sent abroad leather goods in the value of 121.16 million US dollars, up by 37.89%, as compared to the same period of last fiscal year, and 7.54% over the established target set for the period of 112.6 million US dollars.
Revenue generated by other footwear exports amounted to 175.4 million US dollars, reflecting growth of 17.11%, on a comparable basis to similar period of the prior fiscal year. The export level for the period was above the target set of 160.66 million US dollars.
Bangladeshi Footwear Industry
According to the World Footwear 2021 Yearbook (AVAILABLE HERE), in 2020, Bangladesh was the 8th largest footwear producer (423 million pairs) and 9th largest consumer market (366 million pairs). Most of its production supplies the domestic market, having only exported 72 million pairs exported in 2020 (which made the country the 16th largest exporter of footwear). Exports of Bangladesh have been growing consistently and sharply for years but dropped in 2020 for the first time in a decade.
*Bangladesh’s financial year runs from July to June