The continuing slowdown in global consumer spending would appear to be affecting the leather industries of India and Pakistan in equal measure.
According to government figures, during the period April-December ‘02, India’s total leather exports fell 5.94% year-on-year to $1,382.122 million, with leather garment exports declining by 34% to $204 million and footwear components by 24.86% to $134 million. On the plus side, finished leather exports rose 10.67% to $385 million, leather saddlery/harnesses by 26.87% to $32.44, leather footwear by 3.63% to $287.28 million and leather goods by 1.45% to $317.48 million. But the overall trend was down.
By comparison, during the period July ’02 - March 03, the Pakistan leather industry managed to increase its exports, albeit by a modest 1.55%, to $510 million. Of the total, finished leather accounted for $163.862 million (down 3% compared with the year-previous), leather manufacturing including garments, gloves and other accessories $284 million (down 3.5%) and footwear $61.7 million (up by a surprise 61%).
However, the figures for March ’03 would appear to hold less reassurance for the Pakistan’s leathermakers. During the month, exports of finished leather were down 10.7% to $15.659 million while leather product manufacturing fell 28.3% to $21.167 million. At $6.309 million - and in contrast to their nine-monthly performance - footwear exports registered a 32% decrease, to $9.155 million.
