Pakistan: Leather Market 2022

Leather Market Size in Pakistan

The Pakistani leather market stood at $X in 2021, stabilizing at the previous year. Over the period under review, consumption recorded a mild decrease. Leather consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Leather Production in Pakistan

In value terms, leather production reached $X in 2021 estimated in export price. In general, production, however, showed a noticeable slump. The pace of growth was the most pronounced in 2014 when the production volume increased by 9.7% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Leather Exports

Exports from Pakistan

In 2021, after two years of decline, there was significant growth in overseas shipments of leather, when their volume increased by 34% to X tons. Overall, exports, however, recorded a abrupt decrease. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, leather exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for leather exports from Pakistan, with a 23% share of total exports. Moreover, leather exports to Italy exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was held by China (X tons), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-1.0% per year) and China (-12.5% per year).

In value terms, Italy ($X), China ($X) and Vietnam ($X) appeared to be the largest markets for leather exported from Pakistan worldwide, with a combined 53% share of total exports. Hong Kong SAR, Indonesia, Bangladesh, Spain, South Korea, Cambodia, Germany, South Africa, France and India lagged somewhat behind, together comprising a further 36%.

Indonesia, with a CAGR of +3.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average leather export price amounted to $X per ton, dropping by -13.6% against the previous year. In general, the export price saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Pakistan

In 2021, overseas purchases of leather decreased by -4.5% to X tons, falling for the sixth consecutive year after two years of growth. Overall, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 42%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, leather imports declined modestly to $X in 2021. Over the period under review, imports recorded a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Kenya (X tons) were the main suppliers of leather imports to Pakistan, with a combined 43% share of total imports. These countries were followed by Turkey, Italy, Iran, Senegal, Taiwan (Chinese), Thailand, China, the UK, South Korea and Argentina, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were in Taiwan (Chinese) (with a CAGR of +65.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest leather suppliers to Pakistan were Saudi Arabia ($X), Turkey ($X) and Taiwan (Chinese) ($X), together comprising 45% of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +66.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average leather import price stood at $X per ton in 2021, rising by 2.5% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 45% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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