Leather industry faces tough times

The billion-dollar leather industry is going through a tough time owing to intense competition with its rivals and tannery relocation. As a result, Bangladesh has been experiencing a negative export growth in its leather and leather products since last fiscal, industry insiders said. In the fist seven months (July- January) of the current fiscal, leather and leather products export declined by 11.71 per cent year-on-year to $626.42 million, while overseas sales of leather and leather products and leather footwear declined by 26.87 per cent during the last fiscal from a year ago, according to data from the Export Promotion Bureau (EPB).