In the first ten months of 2023, China's exports of leather apparel and accessories amounted to $31.44 billion. The United States emerged as the primary market, accounting for a significant 15.70 per cent of the total exports, with shipments valued at $4.936 billion. Japan, Malaysia, Singapore, and South Korea also featured prominently, ranking among the top five markets for China's leather goods.
Meanwhile, the exports to Japan, the second-largest market for China, were valued at $1.961 billion during January-October 2023, which was 6.24 per cent of the total. Similarly, leather exports to Malaysia totalled $1.406 billion (4.47 per cent), to Singapore $1.270 billion (4.04 per cent), and to South Korea $1.238 billion (3.94 per cent). Among the next top five markets, the share of Australia was $1.216 billion (3.87 per cent), Germany $1.009 billion (3.21 per cent), Italy $899.467 million (2.86 per cent), Russia $891.360 million (2.83 per cent), and Mexico $821.902 million (2.61 per cent).
In 2022, China's leather exports reached a staggering $38.338 billion. The United States topped the list, importing $6.977 billion worth of leather goods, representing 18.15 per cent of China's total leather exports. Japan followed, with imports amounting to $2.759 billion, or 7.18 per cent of the total. Other significant markets included Singapore ($1.833 billion, 4.77 per cent), Malaysia ($1.591 billion, 4.14 per cent), and South Korea ($1.520 billion, 3.96 per cent).
Additionally, Germany ($1.388 billion, 3.61 per cent), Australia ($1.160 billion, 3.02 per cent), Italy ($1.128.498 million, 2.94 per cent), the Netherlands ($1.047.498 million, 2.72 per cent), and the United Kingdom ($990.852 million, 2.58 per cent) were among the next top five markets in 2022, as per data from TexPro.
ALCHEMPro News Desk (KUL)
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