Textile Industry Exports Fall in 2023, Hitting a New Low

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Adi Ahdiat 15/03/2024 11:23 WIB

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According to BPS data, Indonesian textile industry exports declined again in 2023, continuing the weakening trend observed since 2022.

Indonesia's Textile Industry Export Volume and Value (2015-2023)

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Indonesia's Textile Industry Export Volume and Value (2015-2023)

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According to data from the Central Statistics Agency (BPS), the performance of Indonesia's textile industry exports weakened in 2023.

Commodities in this industry group include spun yarn, woven fabrics, man-made staple fibers, man-made filaments/yarns/strips, knitted fabrics, embroidered/lace fabrics, textile fibers, silk, and other textile goods.

Throughout 2023, the volume of national textile industry exports reached 1.49 million tons, down 2.43% compared to 2022 (year-on-year/yoy).

Furthermore, the export value dropped by 14.78% (yoy) to approximately US$3.6 billion.

Thus, the export performance of Indonesia's textile industry has weakened for two consecutive years, namely in 2022 and 2023.

In fact, in 2023, the export volume was smaller than during the pandemic and was the lowest in the last nine years, as shown in the graph.

According to Timotius Apriyanto, Secretary General of the Indonesian Textile Association (API) in Yogyakarta, the decline in the textile industry's performance is due to weakening global demand.

"The current situation of the textile industry in Indonesia is not very good, in the sense that it is influenced by global geopolitical conditions," said Timotius, as reported by *Harian Jogja* (23/2/2024).

Timotius mentioned that several countries are experiencing economic slowdowns and high inflation, so their people prioritize spending on essential goods.

"So they don't buy fashion," he said.

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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