China factor forced BD leather goods remain unsold


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China factor forced BD leather goods remain unsold

China alone buy 70 per cent of Bangladeshi leather and leather goods which have been stopped since February due to Coronavirus caused flight suspension and factory closure between the two countries. The second highest export earner of Bangladesh witnessed about 70 per cent fall in export earning in April, 2020. A sector-wise position paper prepared by Ministry of Commerce said the disruption may hamper export half of the leather and leather goods and leather products remain unsold for the current year. Leather Goods and Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) prepared another report where it found collapse in export during last three months. Overall export earnings from leather products and leather footwear show downtrend in 4 months (Jan-April) of 2020 recording consecutive decrease of 6.59 per cent, 21.72 per cent and 79.30 per cent in February, March, and April respectively, the LFMEAB report said. This unprecedented fall in export is due to most retailers, chain stores and shops remain closed in China and other major export markets including: Germany, Italy, France, Md. Saiful Islam, president of LFMEAB said. Demand for footwear and leather goods has almost dwindled to zero to those markets, he said. “In such critical circumstances, LFMEAB member factories are facing huge economic impact because of declining business and current orders situation amid the coronavirus crisis. Alarmingly, businesses are unlikely to revert to usual level for at least another year if setback continues,”, said in a statement.



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