How Pakistan Can Grow Its Economy by Exporting Leather Goods in 2023

How Pakistan Can Grow Its Economy by Exporting Leather Goods in 2023

Genuine leather is a valuable and versatile material used to make various products, such as clothing, shoes, bags, and accessories. Leather products are popular worldwide as they offer durability, comfort, elegance, and style.

Pakistan is one of the world's leading producers and exporters of leather and leather goods. Its rich and diverse leather industry employs millions of people and contributes significantly to the national economy. Pakistan has a competitive edge in leather production, as it has abundant raw materials, skilled labour, and low cost of production.

However, Pakistan's leather industry also faces many challenges and problems, such as outdated technology, lack of innovation, high taxes and duties, and tough competition from other countries. These factors have affected the growth and performance of the leather sector, resulting in a decline in exports and market share.

This blog post will explore how exporting leather goods can boost Pakistan's economy in 2023. On 14 August 2023, the 76th Independence Day of Pakistan, HiM Leather commits to elevating leather goods exports and contributing to Pakistan's development and prosperity.

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The Benefits of Exporting Leather Goods

Exporting leather goods can offer many benefits and opportunities for Pakistan's economy and society. Some of the benefits of exporting leather goods are:

Increasing Foreign Exchange Earnings

Exporting leather goods can generate more foreign exchange earnings for Pakistan, which can help improve the balance of payments situation, reduce the trade deficit, and strengthen the currency value.

Creating More Jobs and Income

Exporting leather products can create more jobs and income for the people involved in the leather value chain, such as farmers, tanners, manufacturers, traders, and exporters. This can help improve living standards and boost consumer spending.

Enhancing Value Addition and Diversification

Exporting leather goods can enhance the value addition and diversification of Pakistan's export portfolio, which is currently dominated by low-value-added products such as cotton and textiles. 

Promoting Innovation and Technology

Exporting leather products can promote innovation and technology in Pakistan's leather industry, as it can encourage more research and development, adoption of modern machinery and equipment, improvement of quality standards and certifications, and development of new designs and products.

Building a Positive Image and Reputation

Exporting leather goods can build a positive image and reputation for Pakistan in the international market, as it can showcase the quality, variety, and uniqueness of Pakistan's leather products. 

The Potential of Premium Leather Market in Pakistan

Pakistan has a large and authentic genuine leather market catering to domestic and international customers. Pakistan produces high-quality leather from various animals, such as cows, buffaloes, sheep, goats, and camels. Pakistan also has a strong tradition and expertise in leather craftsmanship, which results in exquisite and durable leather products.

Pakistan's genuine leather market has much potential to grow and expand, as there is a high demand for leather products globally. According to the International Trade Centre, the global market for leather and leather products was worth $215 billion in 2019 and is expected to grow at a compound annual growth rate of 5.4% from 2020 to 2027.

Pakistan can tap into this lucrative market by improving its leather production and export capacity and promoting its leather products as a unique and authentic brand. Pakistan can also leverage its strategic location and trade relations with other countries, especially China, the largest global importer of leather and leather products.

How HiM Leather is Elevating Exports of Leather Goods

HiM Leather is a premium leather brand that aims to elevate exports of leather goods from Pakistan and contribute to the development and prosperity of Pakistan. HiM Leather offers a range of genuine leather products, such as wallets, belts, bags, jackets, and accessories, for men who appreciate luxury, style, and convenience.

HiM Leather uses eco-tanned cow leather, which is natural, sustainable, and biodegradable. Eco-tanned leather is better for the environment and the health of workers and consumers than chrome-tanned leather, which is synthetic, harmful, and non-biodegradable.

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HiM Leather also uses innovative and modern designs. One is the S3 Bifold Wallet, a sleek, stylish, and slim wallet that can hold all your cards and bills without being bulky or heavy. The S3 Bifold Wallet has four unique colours: black, brown, blue, and rust. 

HiM Leather is looking forward to exporting its leather products to countries worldwide, especially Europe and North America, where there is a high demand for genuine leather products. 

HiM Leather is also looking forward to celebrating Pakistan's 76th independence day on 14 August 2023 by committing to elevate Pakistan's leather exports and hopes to impact Pakistan's economy positively. HiM Leather invites you to join its journey and support its vision by buying its leather products online.

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