For the first quarter, Bangladesh’s footwear exports rose eight per cent over the same period last year. During the first three months of the current fiscal, Bangladesh’s earnings from footwear exports to the Netherlands alone registered a 35.57 per cent year-on-year growth. Export earnings from Spain grew by 47.06 per cent. Export earnings from Poland grew by 51.88 per cent and earnings from Canada showed a 15.39 per cent growth.

International buyers are expanding their sourcing markets to maintain their profit margins without increasing retail prices, which in turn has opened up opportunities for Bangladeshi footwear makers. Bangladeshi companies like Apex Footwear, Bay Footwear, Jennys Shoes, Bengal Shoe industries, Leatherex Footwear, and 30 other manufacturers are exporting footwear items across the world. Apex makes 15 per cent of Bangladesh’s total footwear exports.

The country’s footwear industry has experienced a meteoric rise in the past decade. Total footwear exports grew from $68 million in 2004 to $777 million in 2016-17. This year’s target for footwear exports has been fixed at $870 million. The target for footwear and leather exports is more than $2 billion by 2018 and $5 billion by 2021.

The quality of Bangladeshi footwear, lower production cost due to the comparatively cheap labor, and duty facilities for EU market are helping footwear makers boost their exports.