Textile Industry Exports Weaken in Q1 2023, Government Prepares Incentives

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Adi Ahdiat 14/06/2023 17:01 WIB

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According to BPS data, Indonesia's textile industry recorded exports of 380,400 tons in the first quarter of 2023, a 14.98% decrease compared to the first quarter of last year.

Indonesia's Textile Industry Export Volume and Value, Quarter I (2022-2023)

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Textile Industry Exports Weaken in Q1 2023, Government Prepares Incentives

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Indonesia's Textile Industry Export Volume and Value, Quarter I (2022-2023)

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Indonesia's textile industry export performance weakened at the beginning of this year. According to data from the Central Statistics Agency (BPS), during the first quarter of 2023, the industry recorded exports weighing 380,400 tons, a 14.98% decrease compared to the first quarter of 2022.

During the same period, the export value also fell by 25.44% to USD 934.6 million, with details as shown in the graph above.

However, when broken down by industry subcategories, this performance decline was not uniform.

In the first quarter of 2023, the largest decrease in export volume occurred in the textile fiber industry (-38.85%), knitted fabrics (-24.89%), yarn (-20.23%), man-made filament fiber/yarn/strip (-18.53%), and other textile goods (-16.94%).

Smaller decreases were experienced by the man-made staple fiber industry (-7.33%) and woven fabrics (-6.95%).

Meanwhile, export volume increased significantly in the knitted fabric (+41.73%) and silk (+30.68%) industries. However, export demand for these two products was very small, so they were unable to boost the overall performance of the textile industry.

The weakening performance of the textile industry has become a concern for the government. Minister of Industry Agus Gumiwang Kartasasmita is preparing policy support for the sector.

"(The textile industry) will receive government assistance. This could be in the form of incentives, and we will discuss this. We will continue to monitor how severely the (textile industry) is affected," said Agus, as reported by *Detik.com*, Monday (12/6/2023).

Agus could not yet confirm the form of the incentives, whether it would be in the form of tax relief, cheap energy prices, or government-borne import duties. However, he stated that these incentives should also be given to other industries affected by the decline in exports.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Textile Industry Exports Weaken in Q1 2023, Government Prepares Incentives

Textile Industry Exports Weaken in Q1 2023, Government Prepares Incentives

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Textile Industry Exports Weaken in Q1 2023, Government Prepares Incentives

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