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Bangladesh increases the value of its leather footwear exports
October 10, 2014
During the months of July and August in this financial year, Bangladesh saw its leather industry exports register double digit growth.
The Bangladesh Export Promotion Bureau (EPB) recently released statistics showing that the country’s leather industry exports had increased by over 18% in the opening months of the current financial year. Leather exports are believed to have reached a value of $202.3 million USD, a rise from $171.3 million USD in the same period for 2013.
Overall, the performance of the different sectors within the leather industry saw varied results. The exports of leather footwear thrived and saw growth move at a dynamic pace while exports of finished leather were actually down year on year by 8.4% for the same period in 2013. According to the EPB statistics, exports of leather footwear reached $95.5 million USD, a staggering 33% rise from the previous year. Exports of leather goods rose by 49.2% to around $40.6 million USD.
Although Bangladesh Leather Footwear exports hit 125.3% of its target for the July/August period, the country’s leather industry as a whole failed to achieve its expected strategic target, achieving only 84.9% of its projected $238.2 million USD target for the period.
Footwear exports excluding leather shoes, increased by 18.8%, confirmed the same source. Non leather footwear exports rose to $30.2 million USD for the July/August 2014 period from $25.4 million use in the same period in 2013.