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Leather sector has a promising future ahead

22
Apr '08
The Turkish leather industry plays a vital role in the economy of the nation. According to the data released by TDKD (Turkish Leather Manufacturer's Association) and IDMIB (Istanbul Leather and Leather Products Exporters Union) in 2007, the sector contributed nearly 2.5 percent to total industrial output of the country.

The leather industry provided employment to nearly 1.5 percent of population and accounted for almost 1.2 percent of entire exports, by generating revenue worth approximately US $1.24 billion.

Russia turned out to be the biggest overseas market for the nation as Turkey earned 28.4 percent of foreign trade and Germany occupied second position with 10.2 percent share.

The local sector is already renowned for its high standards and technology used in processing and ranks second in the world. Presently the annual production capacity of Turkey is nearly 4,00,000 tons. The country exports almost 85 percent of finished leather goods to various nations across globe.

According to Italian Foreign Trade Institute (ICE), if the manufacturers continue to deliver results in same manner than Turkey will be able to achieve the expected target of $5 billion within a short span of five years.


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