DHAKA, Jan 22 (Reuters) - The Bangladesh leather industry faces tough times due to a sharp fall in world prices thanks to the global financial crisis, a business leader said on Thursday. "Though we are doing well in exporting a number of leather products but the scenario is pathetic for the sector as a whole," said Mohammad Saiful Islam, president of the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh. "The prices of raw hides and finished leather dropped sharply in the international markets along with a huge stock-pile last year," Saiful told Reuters. The prices of raw hides and finished leather dropped to 90 cents from previously prices of $1.50 each square foot. Tanners said that nearly 30 percent hide and leather of around 200 million square feet remained unsold following the global economic crisis. The officials of the state-run Export Promotion Bureau said that the export of raw hides and finished leather dropped by 19.61 percent and 22.65 percent respectively from its target set for the July-November period in the current fiscal year to June 2009. Traders said they expected a grim year ahead with prices falling further. Bangladesh exports raw hides to Italy, Japan, Korea and China apart from supplying local export-oriented shoe manufacturing firms. Bangladesh earned nearly $463 million by exporting leather and leather goods in the fiscal year of 2007/08 (July-June) and targeted to export $525 million in the current fiscal year.