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APSyFI: The national textile industry is headed for a trade deficit, 2018 exports grow 1% and imports grow 14% (yoy).--IKATSI: The growth of the national textile industry is still hampered by floods of imports, Indonesia needs a clothing security law.


	
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Home arrow Latest News arrow Textile Trade Balance Threatened Long Deficit


				
			
			
Textile Trade Balance Threatened Long Deficit PDF Print E-mail
Written by Maizer   
Thursday, 11 July 2019

The Indonesian Fiber and Yarn Filament Association (APSyFI) estimates the trade balance of the textile and textile products (TPT) industry will face a deficit in the next 3 years if current problems are not immediately addressed.

 

Redma Gita Wirawasta, Secretary General of APSyFI, said that seeing the trade performance of the TPT sector from 2007 to last year, the average export growth was only 3.1%, while imports grew 12.3%. TPT surplus continued to erode from US $ 6.7 billion to US $ 3.2 billion.

 

In fact, in neighboring Vietnam, the TPT trade balance actually increased from US $ 2 billion to US $ 26 billion in the last 10 years. This shows that the domestic textile industry faces a serious problem.

 

"The industry has a problem, import growth has always been above exports in the last 10 years, but the government is reluctant to see. If it is not addressed, a deficit can occur in the next 3 years in the textile industry, "he said in the Evaluation of Industrial Performance of Fiber and Yarn in the First / 2019 Filament in Jakarta

 

Redma said that in the first semester of this year, imports rose around 7% on an annual basis worth US $ 4.4 billion and it is estimated that at the end of the year the TPT trade balance would only be a surplus of US $ 2 billion.

 

Over the past year, the growth of TPT imports experienced the worst surge in the last 5 years, amounting to 13.8%, while exports only rose by 0.9%. Thus, the trade balance surplus was eroded by 25.5%.

 

 
		
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