During the first quarter of FY 2023-2024, Bangladesh faced a setback in non-leather footwear exports, experiencing a negative growth of over 1%. Official data from the Export Promotion Bureau (EPB) revealed earnings of US$124.07 million, down from the previous fiscal year’s US$478.86 million, which saw a 6.61 percent year-on-year growth.
The decline in major non-RMG (readymade garment) items, including agricultural products, frozen fish and shrimp, leather and leather goods, jute and jute goods, engineering products, and pharmaceuticals, contributed to this negative trend. Bangladesh, a key supplier of synthetic or non-leather shoes to global brands such as H&M, Puma, and Decathlon, faces cautious orders from buyers amid the global geopolitical landscape, influenced by the Russia-Ukraine war.
Industry insiders attribute the decline to changing consumption patterns and a shift in global economic conditions. Despite challenges, the country’s potential in both leather and non-leather footwear items is emphasized as a strategy for exportable product diversification.
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