Global trade of raw leather significantly contracted

The global export of raw leather was $25,105.98 million in the year 2017, which considerably plunged 26.61 per cent to $18,426.02 million in 2019. Total exports dropped 19.42 per cent in 2019 over the previous year, according to data from TexPro. Further, it is expected to move up to $20,169.30 million in 2022 with a rate of 9.46 per cent from 2019.

The global import value of raw leather was $25,904.22 million in 2017, which substantially declined 26.78 per cent to $18,965.91 million in 2019. Total imports fell 21.69 per cent in 2019 over the previous year and is expected to inflate to $21,206.73 million in 2022 with a rate of 11.82 per cent from 2019.

Italy ($3,806.12 million), US ($1,702.53 million), Brazil ($1,161.14 million) and Hong Kong ($909.05 million) were the key exporters of raw leather across the globe in 2019, together comprising 41.13 per cent of total export. These were followed by Germany ($756.71 million), China ($705.40 million) and Thailand ($666.16 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by China (5.82 per cent).

China ($3,658.13 million), Italy ($2,408.25 million), Vietnam ($1,500.49 million) and Hong Kong ($966.82 million) were the key importers of raw leather in the globe in 2019, together comprising 44.99 per cent of total import. These were followed by France ($694.06 million), Germany ($595.55 million) and US ($576.67 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by France (7.39 per cent).