Indonesia's Leather and Footwear Industry Exports Weaken in 2023

Adi Ahdiat 15/03/2024 12:09 WIB

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According to BPS data, the performance of Indonesia's leather and footwear industry exports weakened in 2023. The most significant decline occurred in sports shoes.

Indonesia's Leather and Footwear Industry: Export Volume and Value (2015-2023)

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Indonesia's Leather and Footwear Industry: Export Volume and Value (2015-2023)

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According to data from the Central Bureau of Statistics (BPS), the export performance of Indonesia's leather and footwear industry weakened in 2023.

Commodities in this industry group include athletic shoes, industrial/field work shoes, everyday footwear, goods made of leather/artificial leather, and tanned leather.

Throughout 2023, the national leather and footwear industry's export volume reached approximately 376,200 tons, down 14.24% compared to 2022 (year-on-year/yoy).

Accordingly, its export value decreased by 15.29% (yoy) to approximately US$7.6 billion.

A detailed breakdown by commodity shows that the steepest decline in export performance in this industry group occurred in athletic shoes.

In 2023, Indonesia's export volume of athletic shoes decreased by 25.15% (yoy), and its export value dropped by 25.78% (yoy).

This export decline appears to be in line with the decrease in demand for athletic shoes in several countries.

This is evident from the financial reports of Nike, one of the world's largest athletic shoe companies, whose profits have shrunk due to a slowdown in consumer spending.

In fiscal year 2023, Nike's earnings before interest and taxes (EBIT) fell by 9.6% (yoy).

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."