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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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Red Light Indonesian Textile Industry PDF Print E-mail
Written by Maizer   
Tuesday, 03 September 2019
Economic observer Bima Yudhistira, increasing number of companies unable to pay debts shows an indication of economic slowdown that is spreading in manufacturing industry sector and some financial sectors.

 

"The portion of manufacturing itself continues to decline against GDP is known as premature deindustrialization. The latest BPS data on the manufacturing portion is only 20% of GDP (Gross Domestic Product)," he explained.

 

Specifically in the textile industry itself according to Bima export performance is less happy. The apparel industry in 2014-2018 only grew 3.14%.

 

He assessed that the textile industry has recently been hit by weakening global demand and the effects of a trade war between the United States (US) and China. Not to mention competition in this industry is getting tougher.

 

"Intense competition from competitors from Vietnam and Bangladesh also makes Indonesian textile producers fall. Our industry's competitiveness is weakening," he added.

 

Meanwhile, the market in Indonesia is increasingly flooded with textile import products. This can be seen from BPS data for 2018.

 

"There are imports of textiles and textile products whose value is US $ 10.02 billion, up 13.9% (year on year / yoy). This is no longer a yellow light but already a red light in the textile sector," he added.

 

According to Bhima, the government must immediately take steps to save the domestic textile industry, especially because it is labor intensive.

 

"If there is bankruptcy or not, there will be a wave of layoffs," he concluded.

 

 

 
		
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