Exports of leather footwear from Bangladesh have increased significantly, reaching a five-year high from July to October of this fiscal year. According to data from the Export Promotion Bureau (EPB), export revenues increased by 9 per cent to US $ 228.47 million from US $ 182.11 million in the same period last year.
Bangladeshi exporters are taking advantage of competitive labour costs, which make locally made footwear more inexpensive for international markets, especially in the US, Japan, and the EU, despite economic slowdowns in some areas. Bangladesh is now positioned as a competitive alternative for foreign purchasers as a result of orders shifting there due to growing production costs in China.
After the ready-made clothing business, the footwear sector is Bangladesh’s second-largest source of foreign exchange earnings. The value of footwear exports over the same months in the pandemic-affected fiscal year 2020–21 was US $ 168.53 million.
The manager of Akij Footwear Limited, Prottoy Parvej, observed that more orders were coming from China to Bangladesh, highlighting how reasonably priced Bangladeshi leather shoes are in comparison to their Chinese and Indian counterparts. He expects the order book to continue growing as a result of enquiries from prominent purchasers in Japan, North America, and the Eurozone.
Apex Footwear Limited’s company secretary, Md. Omar Faruque, acknowledged that the company received more orders from the USA and Japan this year and emphasised the significance of political stability in maintaining this positive trend.
About 60 local businesses, such as Jennys Shoes, Bay Footwear, and Apex Adelchi Footwear, mostly export leather goods and footwear to the US, Europe, and Japan. The footwear market in Bangladesh is anticipated to increase by 5.66 percent a year through 2028, reaching US $ 3.33 billion by 2024.
As global demand picks back up after the economic recovery, the local footwear industry is set to see significant value addition, creating opportunities for export diversification.
