Fur Trade Is Worth As Much As The Wifi Industry

According to a recent study, the global fur trade is valued at over $40 billion which is roughly the size of the global WiFi industry. This shows how strong the global economic impact is from this growing industry. This industry is not only growing but also is becoming an economic powerhouse to many economies around the world. This study is the first one to look at the whole fur industry. It looks beyond  just the retail stores and includes designer boutiques, sporting goods stores and also looks at the value of fur farming and production. Here are some highlights of this study, that was commissioned by the International Fur Federation and conducted in 2012/13:

• Global retail sales were $35.8 Billion and fur farming is valued at $7.8 Billion.
• Total employment in this sector is over one million worldwide.
• In countries such as; Greece, Russia, China and Denmark, fur is a huge contributor to their national economy and employs thousands of people.
• Fur was appearing in over 70% of the fall 2014  designer collections with significant growth in the home accessory category.
• According to the Fur Information Council of America and the Fur Council of Canada,  the 2013 North American fur sales were $1.7 Billion, which is 10 per cent higher than 2012.

This study clearly demonstrates how important this industry is to the global economy and how it is poised for continued growth for years to come.