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Bangladesh’s export basket remains heavily reliant on the RMG sector, leaving the economy exposed to external trade shocks, tariff fluctuations, and supply chain disruptions. In this context, LightCastle Partners has conducted an in-depth secondary study, drawing on the World Footwear Report 2024 and complementary data sources, to assess the potential of the footwear industry as a driver of export diversification and enhanced economic complexity.
The analysis situates Bangladesh as the 8th largest footwear producer globally, yet with a comparatively modest export footprint, signaling untapped opportunities. It unpacks the global dynamics of footwear consumption and production, highlighting the growing shift toward sustainable, non-leather alternatives, rising demand across Asia and Europe.
Alongside the strategic implications of preferential trade access in the EU. At the same time, it underscores persistent challenges including limited adoption of circularity, environmental compliance gaps, and dependence on mid-tier product segments that must be addressed to capture higher-value markets.
What emerges is both a snapshot of current realities and a roadmap for the future: how Bangladesh can leverage its production surplus, scale competitiveness in non-traditional markets, and reposition itself as a hub for environmentally responsible footwear manufacturing.
The study offers actionable insights for policymakers, investors, and industry stakeholders on how the footwear sector can evolve into a cornerstone of export diversification, advancing Bangladesh’s journey toward resilience, inclusivity, and sustainable growth.
Sadia Karim, a Business Analyst at LightCastle Partners authored up this analysis. For any queries, reach out to [email protected]
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