Our Competitors export up 31% to $3 billion in first 6 months :


ABOUT BANGLADESH FOOTWEAR MARKET :
Bangladesh leather and footwear exports in the first six months of the year reached nearly 3 billion U.S. dollars, up 31 percent year-on-year, according to the General Statistics Office (GSO) on Tuesday.The Bangladesh Leather and Footwear Association said that many domestic producers already received export orders for the second half of the year, making the volume of export orders in 2013 increase by roughly 20 percent compared to last year, and the orders' prices surge by roughly 7-10 percent. Despite obstacles like high interest rates, inflation and rising cost of raw materials, the Bangladeshis leather and footwear industry targeted an export turnover of 5.5 billion U.S. dollars this year, compared to nearly 5.1 billion U.S. dollars last year.Bangladesh exports leather and footwear products to 50 countries and territories worldwide including the United States, the European Union, Japan, Belgium, Holland, France and Denmark, making it one of the world's top ten footwear exporters.With its growth strategy for 2020 that focuses on the development of supporting industries as well as materials supply, the industry expects to earn 9.1 billion U.S. dollars from the exports by 2015, and 14.5 billion U.S. dollars by 2020,


Footwear sector enters into the era of maximum value addition:
Footwear sector enters into the era of maximum value addition.As an intermediary product, leather has been among the top three products of Bangladesh’s export’s basket for the last several decades. But the scenario is changing now.Export of finished leather goods or fully value-added items has surpassed the earnings from intermediary leather products, shows a report of the Export Promotion Bureau. Industry people said fast expansion of export-oriented footwear and fashion leather goods industries has pushed Bangladesh’s leather industry into a new era.They said more expansion would be there as global importers are taking new interest in sourcing from Bangladesh. Many in the industry say that a billion dollar worth leather goods export sector for Bangladesh would emerge before long and would flourish like the apparel industry. Footwear shipments earned $197 million in eight months of the current 2010-2011 fiscal year, growing more than 48 percent over the corresponding period of the last fiscal year. Exports of non-footwear fashion leather goods, like handbags, travel bags, purses, and belts etc, increased by 153 per cent in July-February of the current fiscal year to $36.4 million.On the other had, leather shipments earned $176 million in July-February, growing 35 percent year-on-year.Industry insiders said growth in leather exports in term of volume remained slow but increased unit price in global market kept the earning growing. But, they said, leather footwear and other finished leather goods shipments continued sharp increase in volumes also as production capacity in these industries are growing quite fast.


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Bangladesh’s leather sector :
FG Shoes sees that a huge room is there for Bangladesh in several hundred dollars worth of global market of footwear and fashion leather products.Industry people say EU and Japan have been the traditional market for Bangladeshi footwear industry, but huge demands are coming recently from USA, which is quite a new market destination for Bangladeshi footwear exporters.Though in the next two years the existing factories are likely to export more shoes, it is the new capacity {expanded and new factories] that will come on stream from early 2011 that is expected to cause the huge spur in growth. The Export Processing Zones at present have 18 shoe and leather goods factories but there are at least seven large factories under construction, mostly owned by big manufacturers in the shoe world. The factories under construction include Korean company Youngone’s footwear complex which is said to be the largest in Asia.


TBC

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