Key Market Indicators
The country ranked number 6 in 2021, Portugal overtook with $184,520,000. France, Spain and Germany respectively ranked numbers 2, 3 and 4 in this ranking. Sales of British leather goods are expected to reach around €1.6 billion by 2026, up from €1.5 billion in 2021. This is a year-on-year average growth rate of 1.2%. Since 2013, the British market has seen a steady decline of 0.9% each year. In 2021, the UK was the sixth biggest market in Europe, behind Portugal, which had sales of €1.5 billion. France (€2.2 billion), Spain (€1.9 billion) and Germany (€1.8 billion) came in second, third and fourth respectively. British imports of leather goods are forecast to fall slightly to $368.9 million by 2026, down from $370.7 million in 2021. This represents a year-on-year compound annual growth rate of 0.1%. Since 1998, British demand has grown by an average of 1.5% each year. In 2021, the UK was the fifth biggest importer in Europe, behind Italy, which had imports worth $370.7 million. Germany ($788.9 million), France ($746.1 million) and Italy ($737.2 million) came in second, third and fourth respectively. British exports of leather goods are set to rise to $204.6 million by 2026, up from $184.5 million in 2021. This is a year-on-year compound annual growth rate of 1.7%. Since 1998, British exports have grown by an average of 2.2% each year. In 2021, the UK was the sixth biggest exporter in Europe, behind Portugal, which had exports worth $184.5 million. France ($781.7 million), Spain ($521.9 million) and Germany ($445.7 million) ranked second, third and fourth respectively.