Export of leather, leather goods and footwears is booming in recent months, on the back of continued high demands for such products in the global market, sources said on Friday.
Industry insiders said, Bangladesh is gradually becoming a favourite place for global buyers because of its low production cost and quality of products. Besides, new investments are coming in the sector as buyers continue to shift their focus from China to Bangladesh due to rising cost of production there.
According to an official figure, Bangladesh earned $381 million from export of leather, $169.76 million from leather goods and $410.21 million from footwears during the July-March period of the current fiscal.
Besides, leather export during the same period recorded nearly 40 per cent growth, leather products 62.84 per cent and footwear 31.69 per cent.
“As buying orders shifted from China, a key leather and leather goods exporting nation, to Bangladesh in large number, it helped attain the export boom of leather goods of the country in recent months,” Abu Taher, Chairman of Bangladesh Finished Leather, Leathergoods and Footwear Exporters’ Association (BFLLFEA) told The New Nation yesterday.
He also said that aggressive marketing of product and market diversification by the local manufacturers also contributed a lot in growing shipment from the sector.
Abu Taher said, it is the third largest export earning sector representing highly dynamic and value added industry in leather and leather products. “The manufacturers are now concentrating more on exporting value added products than exporting only finished leather and such a shift in product range helped to lure the global buyers,” he noted.
He further said, local products are still competitive to lure the global buyers.
“Leather and leather product exports are showing a strong growth trend in the current fiscal capitalising talent and ability of the local manufacturers,” said Mohammad Shahin Ahmed, President of Bangladesh Tannery Association (BTA).
He added, “Buyers of leather and leather goods are increasingly shifting to Bangladesh from countries like China and Vietnam, as the local producers are able to ensure international standard, designs and competitive price.”
When asked, Shahin Ahmed said, flow of export orders is encouraging and we hope export from the sector would grow tremendously by end of the current fiscal capitalising increasing demand from the international market.
