Bangladesh's footwear exporters hope US to be bigger market than EU

According to the Bangladesh Export Promotion Bureau (EPB), the country’s export earnings from footwear in 2022 increased by 25.63 per cent to $1.28 billion from $1.02 billion in 2021. Of that, $795.53 million came from shipping leather footwear.

Bangladesh's footwear exports to the United States rose by 64.4 per cent to $451.40 million last year, compared to 2021’s figure of $274.58 million as US buyers relocated their sourcing from China and Vietnam. Its footwear exports to the EU last year stood at $540.33 million, according to the EPB.

Bangladesh's leather footwear exports last year to the US market also grew by 63.25 per cent to $406.49 million from $249 million in 2021.

The total US imports of footwear from the world last year increased by 32.51 per cent to $33.43 billion compared with $25.23 billion in 2021, Bangladesh media outlets reported.

US footwear imports from China last year grew by 23 per cent to $12.15 billion from $9.88 billion in 2021. Footwear imports by the US from Vietnam in 2022 increased by 41.19 per cent to $10.48 billion from $7.42 billion in 2021.

India's footwear exports to the US market grew by 64.19 per cent to $745.03 million last year. Footwear exports by Indonesia to the United States last year rose by 53.04 per cent to $3 billion from $1.96 billion in 2021.

US footwear imports from Cambodia last year grew by 47.68 per cent to $1 billion from $678.18 million in 2021, according to US data.

Fibre2Fashion News Desk (DS)