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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 Industry Corrections Performance Target in 2020


				
			
			
Industry Corrections Performance Target in 2020 PDF Print E-mail
Written by Maizer   
Thursday, 07 May 2020

The Central Statistics Agency (BPS) noted that economic growth in the first quarter of this year only rose 2.97 percent yoy. While on the other hand, industry associations and a number of companies have openly revised down this year's performance targets due to the depressed corona outbreak.

 

Secretary General of the Indonesian Textile Association (API) Rizal Tanzil Rakhman said the association revised its target which was initially predicted to grow by around 3.5 percent to decrease to -1.3 percent with the assumption that July would improve.

 

"At present the conditions are very severe. The average national factory utility is already below 10 percent because there are no markets either local or export. As a result, most of the factories have been closed," he explained.

 

Rizal said that the current industry resilience to survive after May is almost impossible, because the company's cash has run out.

 

"And the fastest is 1-1.5 years to recover if it is closed," he said. In addition, the Indonesian Olefin, Aromatic and Plastic Industry Association (Inaplas) has already corrected its industrial stretching targets twice this year due to corona impact.

 

At the beginning of the year, before Corona news broke out in Indonesia, Inaplas projected that the chemical and plastic industries could grow at around 5.2 percent. However, after Corona broke out, they revised their growth target to 2.5 percent.

 

As of this May, Secretary General of the Indonesian Olefin, Aromatic and Plastic Industry Association (Inaplas) Fajar Budiono revealed the growth target of the Olefin, Aromatic and Plastic industry to only 0.5 percent so far this year.

 

"In the downstream, it has dropped quite well, its utilization has dropped to 40 percent due to declining purchasing power. However, utilization in the upstream is still normal at 90-95 percent, there is no problem," he explained.

 

However, to maintain the growth of its industry, Inaplas targets to target the export market. Fajar revealed that in May, Inaplas targeted to be able to export 30,000 tons of products from upstream including polyethylene, propylene to be exported to China.

 

Later it will be sold to Bangladesh, India, and several countries that have already loosened the lockdown policy. At the same time, downstream products such as plastic, sacks, and others have also targeted export markets to Malaysia, Thailand and the Philippines because the market is dropping.

 

Another business sector that is depressed because of the corona outbreak is automotive. The proof is that a number of automotive manufacturers have temporarily closed their factories. As a result the products circulating are also not the same as normal conditions. Kukuh Kumara, General Secretary of Gaikindo, said there would be a correction in the performance of the automotive industry due to Corona. "The 2020 prediction was corrected from the initial sales reaching 1.05 million units to only 600,000 units," said Kukuh.

 

 

 
		
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