The import of raw hides, semi-finished and finished leather in Japan during the first 7 months of 2019 has lost about 18.6% of its value. The result was reported even after JEFTA came into play, which is the trade agreement between Japan and the European Union that will bring, in 10 years, to the full elimination of any barrier between the two area. During the same period, leather exports out of the country have dropped 13.5% on yearly base, according to leatherbiz.com.
The Italian trend
Going through the data published by Lineapelle’s Economic Service, one can read things aren’t going much better for made-in-Italy goods. During the period going from January to June of 2019, exports of all tanned leather (with hair or not) decreased by 5%. One way to look at the situation positively is that Japan’s value for other tanners around the world has decreased even more: China, for example, exported 23% less than it did before.
The leather product, on the other hand, does well
Always according to leatherbiz.com‘s data, the performance of leather goods is, opposite to the mentioned one, decisively positive: Japan’s import of leather accessories has increased by 9.4% during the first 7 months of the year.
EU and Japan find an agreement for free trade. However, it’s below expectations