Leather and leather goods shippers look good as the apparel exporters make their faces long over the Russia-Ukraine conflict.
Exports of leather and leather goods rose by 24 percent in August compared to July of this year, according to the Export Promotion Bureau (EPB). According to EPB data, the export of leather goods reached $99.41 million in July and $124.09 in August. According to LFMEAB, 40 percent of the 155 companies in the last two years have stopped exporting because of compliance problems.
In the months of July and August, total exports of leather were $23.23 million, leather goods were $53.47 million, and leather footwear was $146.90 million. Leather products brought in $25.10 million, leather footwear $61.42 million, and leather exports $12.17 million in July.
To realize its goal of ranking among the top 10 countries exporting leather by 2025, Bangladesh must increase exports. Export revenue from processed leather decreased by 21 percent in the fiscal year 2017–18, from $232.6 million to $183 million. However, according to the Export Promotion Bureau(EPB), exports of leather footwear increased 7.48 percent to $607.88 million in FY 2018–2019. In contrast, exports of leather and leather goods increased to $1,245.18 million in the 2021–2022 fiscal year from $941.67 million the previous year.
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