Non-leather footwear export rises by 19pc in first half of FY23

The country’s export continues to rise amid the Russian-Ukraine war while the fuel oil price and inflation also rise.

According to the latest data of Export Promotion Bureau (EPB), export of non-leather footwear increasing by 18.84 per cent to $250 million in the first half (July-December) of 2022-23 fiscal (FY23) from $212.8 million in the corresponding period of the previous year.

The EPB said the government set a target of $243.7 million on the export of non-leather footwear for the first half of FY23 and $520 million for FY23.

Export of non-leather footwear rose by more than 30 per cent to $449.1 million in 2021-22 fiscal from $244 million in 2017-18 fiscal.

According to entrepreneurs, currently, global shoe market, mostly non-lather, is worth $381 billion and that will cross $500 billion in 2027.

Many foreign buyers could not place work order due to the shortage of factories after the coronavirus pandemic.

According to data from the World Footwear and the Statista, global shoe market rebounded after the coronavirus pandemic. Some 22 billion pairs of shoes were manufactured in 2021 from the preceding year, an 8.6 per cent rise from 2020. Some 12.93 billon or nearly 68 per cent of shoes manufactured in 2021 were artificial leather.