The trade balance of the leather and footwear industries sector posted a surplus of 132.2 million dinars, in the first quarter of 2021, according to a report on the situation of the leather and shoes sector, published by the National Leather and Shoes Center.
In its report, the National Leather and Shoes Center explained the surplus of the trade balance, with the positive performance of the footwear, 162.2 million dinars, shoe upper 64.6 million dinars and leather products, 29.1 million dinars.
The leather clothing sector, in turn, recorded a very slight surplus of 0.7 million dinars.
On the other hand, the input sector, such as hides and skins, furs, accessories and components, saw a deficit in the trade balance amounting to 87 million dinars and 37.4 million dinars, respectively, in the first quarter of 2021.
Exports of the leather and footwear industry decreased by 7.6 percent, to 344.8 million dinars at the end of March 2021, and the sector’s imports decreased by 11 percent to 212.6 million dinars. Therefore, the rate of import coverage with exports has risen to 162.2 percent.
The report on the situation of the leather and shoe industry attributed the decline in exports, mainly, to the national and global economic crisis resulting from the COVID-19 pandemic, which has continued to extend to other sectors.