Tianshi Shoes & Clothes Co., Ltd. Shishi
Despite the global crisis, leather exports have maintained healthy growth
Release time:
2022-07-28 11:14
Source:
Despite the global economic crisis, in the first five months of this fiscal year, Bangladesh leather and leather products industry exports achieved 17.56% growth year-on-year, benefiting from increased buyer orders. According to data from the Bangladesh Export Promotion Board (EPB), exports of leather and its products from July to November amounted to $537.5 million, compared to $456.85 million in the same period last year. Among them, the export income of leather shoes was 328.19 million yuan, an increase of 17.55%, while the income of leather products reached 153.74 million yuan, an increase of 26.89%. Leather exports decreased by 1.61% to $55.57 million.
The leather industry has been hit hard by reduced orders in 2020 and 2021 due to the coronavirus outbreak. Production soon resumed and importers diverted orders to Bangladesh, with exports of leather and its products and footwear hitting a new high of $1.25 billion. In addition, due to the surge in demand in winter and before Christmas, the export volume of leather goods and shoes continues to rise.
Footwear exporter Janis Shoes general manager Nasir Khan said, however, for the current export growth trend will continue until the end of the financial year, it is still uncertain, because the global economic crisis caused by the conflict between Russia and Ukraine has no sign of ending in the short term. Although the export business grew, it was still lower than expected.
Nasir Khan said: "There is a lack of coordination in the leather industry, and companies cannot get the raw materials and accessories they need on time, resulting in timely delivery."
The Vice chairman of the Bangladesh Leather Goods and Footwear Manufacturers and Exporters Association said that although the EPB's data showed that the export performance of footwear and leather products was better, the situation of manufacturers was not optimistic. Non-leather footwear exports are growing strongly due to the increasing global demand for low-cost synthetic footwear. According to a study, the global synthetic leather market is expected to reach $66.84 billion by 2030, with an average annual growth of 8%.
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Despite the global crisis, leather exports have maintained healthy growth
The leather industry has been hit hard by reduced orders in 2020 and 2021 due to the coronavirus outbreak. Production soon resumed and importers diverted orders to Bangladesh, with exports of leather and its products and footwear hitting a new high of $1.25 billion. In addition, due to the surge in demand in winter and before Christmas, the export volume of leather goods and shoes continues to rise.
Since the beginning of this year, China's two major foreign trade centers, the Pearl River Delta and the Yangtze River Delta, have been affected by the epidemic, but the foreign trade industry still shows strong resilience, in May this year, China's export data recovered beyond expectations, exports 1.98 trillion yuan, an increase of 15.3%, becoming a bright color in the shadow of the epidemic in China's economy. In particular, the export data of high value-added products such as automobiles and mobile phones are bright, showing that the upgrade of the export structure is accelerating.
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