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Industry Projection in 2020 to Grow 5.3%, Lower than 2019 PDF Print E-mail
Written by Maizer   
Friday, 10 January 2020

Minister of Industry Agus Gumiwang targets GDP growth in the non-oil and gas processing industry in 2020 to range from 4.80% to 5.30%. This projection is lower than the 2019 target of 5.4%.

 

 

Agus explained that the high scenario or optimistic scenario of 5.30% is projected to be achieved with the assumption that competitiveness increases along with an increase in sectoral productivity and investment efficiency. The industry growth projection of 5.3% is indeed slightly above the 2020 economic growth projection which is only 5.2%.

 

"So that this will guarantee raw materials, technology uptake, conducivity including politics and security, business climate and product innovation following global consumer preference trends," Agus said in a 2019 performance press conference and the outlook for the development of the industrial sector 2020, Jakarta.

 

The low scenario of 4.80% industrial growth from 2019 of 4.48% is projected with the assumption that Indonesia cannot face global challenges and domestic challenges.

 

While the projected contribution of 2020 industrial GDP is targeted at 17.80% to 17.95% of the national GDP. The low scenario assumption of 17.80% is projected assuming the growth of other sectors is faster than industrial growth.

 

"This can happen because the industrial business climate does not increase, both household consumption for industrial products decreases, one of which is because digital trade and consumption trends change to leisure," Agus said.

 

While the assumption of optimistic scenarios, namely industrial growth faster than other economic sectors, is due, among others, to an improved physical or non-physical business climate that encourages industrial efficiency, utility and investment.

 

If the business climate improves, this will trigger investment or increase the industrial population. Employment will increase. Agus projects that the labor force in the industrial sector will absorb 19.66 million people in 2020.

 

Agus further explained, the manufacturing industry became the largest contributor to the national export value. During January-October 2019, exports of manufactured products reached US $ 105.11 Billion.

 

The three sectors that were the biggest contributors were the food and beverage industry which penetrated US $ 21.73 billion, the base metals industry around US $ 14.64 billion, and the textile and apparel industry amounting to US $ 10.84 billion.

 

 
		
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