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Home arrow Latest News arrow Projected Manufacturing Industry Grows Aggressively in Second Quarter


				
			
			
Projected Manufacturing Industry Grows Aggressively in Second Quarter PDF Print E-mail
Written by Maizer   
Monday, 20 May 2019

The Ministry of Industry is optimistic that the manufacturing industry sector in the second quarter of 2019 can grow more aggressively compared to the previous period. This is due to the momentum of Ramadan and Eid.

 

Secretary General of the Ministry of Industry Haris Munandar said that his company was optimistic in the second quarter that industrial growth would approach 5 percent. Beyond achievement of the first quarter which was only at 4.8 percent.

 

According to him, the business climate after presidential and legislative elections improved after investors chose to wait and see. Plus the moment of Eid where consumption of most people increases. In addition, the circulation of money to  regions was even stronger because many people going home or returning home. "The holiday is long, so people can spend more," he added.

 

The Secretary General of the Ministry of Industry also considers that the mass action that took place on 21-22 May 2019 did not have a major impact on national industrial activities. It believes that political turmoil will soon subside and industrial activity will proceed normally. Meanwhile, growth in the manufacturing industry will also be lifted by the increase in investment projected to surge in the second quarter of this year. This belief refers to trends that have occurred since the 1992 elections.

 

The manufacturing industry is one sector that contributes significantly to total investment in Indonesia. In the first quarter of 2019, the non-oil and gas processing industry contributed 18.5% or IDR 16.1 trillion to the realization of domestic investment (PMDN). The three sectors that support the largest total domestic investment in last  three months this year, such as the food industry that poured funds reached Rp. 7, 1 trillion, followed by the base metal industry Rp. 2.6 trillion and the tobacco processing industry Rp1, 2 trillion.

 

Furthermore, the manufacturing industry also deposits up to 26% or USD 1.9 billion towards the realization of foreign investment (PMA). The three sectors that support it, such as base metal industry amounting to USD593 million, followed by food industry USD376 million and chemical industry and goods of chemicals USD217 million.

 

The Ministry of Industry targets, throughout 2019 the growth of the manufacturing industry can reach 5.4%. The sub-sector which is expected to grow is high, including food and beverage industry, machinery industry, textile and apparel industry,  leather industry, leather goods, and footwear, as well as metal, computer and electronic goods industries.

 

 

 

 
		
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