KARACHI, July 14: The export of leather and leather products has registered a four per cent growth at $723 million surpassing the target of $715 million during the last fiscal year.

According to official figures leather and leather garments exports stood higher by four per cent over previous year's total exports stood at $695 million. This is the highest achievement of exports by leather industry during last 10 years.

The best performer in the leather sector during 2003-04 was made by gloves sector which exported $70 million worth of goods over last year exports at $57 million, showing an increase of 22 per cent.

Lether made-ups, including leather garments and other leather products increased by 1.22 per cent to $333 million from $329 million a year ago. The exports of tanned leather during the year under review was $243 million compared to $234 million the previous year, an increase of 3.46 per cent. These are provisional figures and are expected to further improve when finalized.

Fawad Ijaz Khan, chairman Pakistan Leather Garments Manufacturers and Exporters Assocaition (PLGMEA), said growth in leather sector's exports was only possible if liberal imports of leather was allowed.

He further said that growth in production of livestock was around two per cent annually. Therefore, the leather made-ups sector would have to rely heavily on imported leather in future for sustaining growth beyond 2 per cent annually.