In the last year, Sri Lanka's footwear and leather sector has shown marked growth with a 63% rise in exports from the previous year.
Total leather and leather product exports was at $ 51 million in 2013 increasing 63.5% from $31.19 million earned the previous year.
"Our footwear and leather exports have shown a strong growth trend," said Minister of Industry and Commerce Rishad Bathiyutheen said at the recent inauguration of the sixth edition of the Footwear and Leather Fair at the BMICH. "What is more interesting is that this event is also taking place at a time when our footwear and leather exports are showing a strong growth trend."
Also speaking at the inauguration ceremony, Sri Lanka Export Development Board chairman and CEO Bandula Egodage said the significant contribution of the leather industry to the Sri Lankan economy is twofold.
"The industry depends 50% on its imports and 50% on local manufacturing, which means the industry is saving for foreign currency as well as earning for foreign currency," he explained.