June 17, 2024

Indonesian Textile Exports Drop 14.78% In Previous Year

Data released by the Central Statistics Agency (BPS) reveals that textile exports from Indonesia showed a significant decline and reached a record low in the last nine years.

The Indonesian textile industry, which is one of the leading sectors in the country’s economy, experienced a sharp decline of 14.78 percent year on year to total US $3.6 billion in 2023 in exports.

This marks a decline in the export performance of the Indonesian textile industry for two consecutive years, after a similar decline in 2022.

According to the BPS report, the export volume of the textile industry in 2023 reached 1.49 million tons, a decrease of 2.43 percent compared to 2022.

“External factors such as global economic slowdown and high inflation in a number of countries are the main causes,” the General Secretary of the Indonesian Textile Association (API) Timotius Apriyanto said.

“This condition has resulted in people prioritiaing shopping for basic necessities rather than fashion products,” he added.

Interestingly, the decline in export volume in 2023 is even lower than during the COVID-19 pandemic, indicating a significant impact from changes in global economic conditions.

Timothy also emphasised that the global geopolitical situation also influenced the performance of the Indonesian textile industry.

Political and economic uncertainty in several countries, along with trade tensions, has put additional pressure on textile exports.

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