Despite Rising Export Values, These 3 Industrial Sectors Face Mass Layoffs

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Adi Ahdiat 22/12/2022 14:50 WIB

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The export value of the textile, furniture, and footwear industries increased until the third quarter of 2022. However, according to Apindo, these three industries are expected to conduct mass layoffs

Annual Percentage Change in Export Volume and Value of 3 Industries Facing Mass Layoffs (January-September 2022)

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Annual Percentage Change in Export Volume and Value of 3 Industries Facing Mass Layoffs (January-September 2022)

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The Indonesian Employers Association (Apindo) stated that the textile, footwear, and furniture industries will conduct mass layoffs (PHK) in 2023 due to declining demand.

"Mass layoffs will definitely happen next year, not just 'will'," said Apindo Deputy Chairwoman Shinta Widjaja Kamdani, as reported by *Katadata*, Wednesday (21/12/2022).

According to data from the Central Statistics Agency (BPS), the export volume of the textile and furniture industries weakened this year, while the footwear industry strengthened.

Here's a breakdown of the export volume of these three industries in the January-September 2022 period, along with the percentage change compared to January-September of the previous year (year-on-year/yoy):

* Textile industry: 1.18 million tons, down 14.52% (yoy)
* Furniture industry: 486,030 tons, down 4.49% (yoy)
* Leather and footwear industry: 337,480 tons, up 34.28% (yoy)

Although the volume of demand varied, the value of foreign trade from these three industries increased.

Here's a breakdown of their export value during the January-September 2022 period, along with the annual percentage change:

* Textile industry: US$3.38 billion, up 1.61% (yoy)
* Furniture industry: US$2.19 billion, up 7.05% (yoy)
* Leather and footwear industry: US$6.88 billion, up 36.33% (yoy)

This data indicates an increase in the price of Indonesian textile and furniture commodities in the international market. Because, although export volume decreased, the trade value was higher than in January-September 2021.

The graph above also shows that from the beginning of the year to the end of Q3 2022, the export demand for the Indonesian footwear industry remained high, even significantly stronger than last year.

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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Despite Rising Export Values, These 3 Industrial Sectors Face Mass Layoffs

Despite Rising Export Values, These 3 Industrial Sectors Face Mass Layoffs

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