Leather Footwear Sector of Bangladesh records robust export performance
Continuing its good performance, leather industry as a whole closed first quater achieving 99% of the exports target for the period according to the Bangladesh Leathergoods and Footwear Association. Leather footwear surpassed its target.
The leather industry in Bangladesh closed its first quarter of the new fiscal year (July-September), with exports earnings just slightly below the strategic target for the period (99%). It had been set a 328.11 million US dollars earnings goal for the first quarter, but the industry achieved an export earnings of 324.62 million US dollars.
Total earnings from exports of the leather segment reached 47 million US dollars in the period, which compares to 57 million US dollars established as target for the first quarter. A decline was also registered compared to similar period in the previous year reflecting the trend towards more value addition through Leathergoods and Leather Footwear.
Exports of leather goods reached 111 million US dollars, below the 128 set for the period. However leather footwear segment showed a robust performance, continuing with the a positive growth trend, and totaling earnings from exports of 166 million USD dollar, 17% above the target for the period (142 million US dollars).