Leather goods manufacturing revenue reaches $680 million
According to a new report, ‘Miscellaneous Leather Good Manufacturing Industry in the US and Its Foreign Trade (1996-2008)’, released by Research and Markets, US revenues in this sector reached approximately $680 million in 2006, with gross profit of an impressive 34.32% ($233,376,000). Focusing on all leather goods manufacturing other than footwear, luggage, handbags, purses, and personal leather goods the report claims some 373 establishments were active in the industry last year, contributing an average of approximately $1.82 million to the total revenue generated.
The total export value for the year was $510.398 million which represented a 0.1% decrease from 2005; however, in line with general trends, import values in the sector increased 8.6% to $625.093 million.
In terms of trading partners Mexico was the main export market accounting for some 43.1% ($219.96 million), followed by Canada at 13.72% ($70 million), China at 11.03% ($56.286 million), Hong Kong at 8.88% ($45.346 million) and Vietnam at 6.75% ($34.476 million). China topped the list of importers accounting for 47.02% ($293.925 million), followed by Mexico at 11.68% ($72.985 million), India, at 5.85% ($36.552 million), Germany at 5.21% ($32.557 million) and the Dominican Republic at 3.96% ($24.727 million).
