There has been a dramatic shift in global raw leather exports. India’s exports have dropped drastically, and Australia’s exports have also suffered a loss in the last six years. The same trend continued for these countries during the current year. However, their loss has become China’s gain as its exports of the product rose during the current year.
India’s leather exports were at $885.526 million in 2017 which came down to $449.727 million in 2021. The outbound shipment was at $311.601 million in the first eight months of this year. Exports have been constantly declining in the last few years. They slipped to $782.838 million in 2018, $555.100 million in 2019 and $375.158 million in 2020, according to Fibre2Fashion’s market insight tool TexPro.
Australia’s exports of raw leather could not recover in 2021 from the COVID impact of 2020. The country’s exports were at $483.509 million in 2021 which was better than the exports of $351.445 million in 2020, but lower than that of $493.749 million in 2019. Earlier, Australia’s exports of raw leather were recorded at $665.063 million in 2018 and $743.039 million in 2017.
On the other hand, China’s exports grew at an impressive rate despite the COVID-19 disruption. Shipment increased to $996.791 million in 2021 from $645.689 million of 2020, when it had reduced from $705.397 million of 2019 due to the global pandemic. The country exported raw leather worth $638.338 million in 2018 and $620.324 million in 2017, as per TexPro.
China’s exports reached $777.908 million in the first three quarters of this year. India shipped raw leather worth $311.601 million, and Australia’s exports were at $273.346 million for the same period.
Fibre2Fashion News Desk (KUL)