In the first 10 months of the business year, currently underway, the international revenues of Bangladeshi leather industry have reached 838 million dollars, therefore decreasing by 8.7% on annual basis. On the one hand, footwear is the only product category that is enjoying a positive trend (revenues amount to 491 million dollars, therefore increasing by 6.7%); on the other hand, in the same period leather goods have been dramatically slumping: earnings coming from exports only reached 200 million dollars, as they dropped by 33%. Ultimately, finished leather achieved average accomplishments overall, as they declined by 5.7% (that is, 147 million dollars). As reported by Leatherbiz, Bangladesh’s government expects global exports, in the leather industry, to reach 1.1 billion dollars at the end of the financial year.
Pakistan is craving for import
Bangladesh and Pakistan are in the same boat. PTA, Pakistan’s association of tanners, is asking government to make things easier, in order to start up their business again. What should government do? They should foster imports of machinery from abroad, therefore reducing duties on imports of chemical auxiliaries and softening health regulations about provisions of tanning raw material coming from international markets.