Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

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Cindy Mutia Annur 27/10/2022 12:10 WIB

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The decline in demand in the textile industry is evident in the export value of clothing and accessories/knitwear, which plummeted by 30.57% (month-to-month/mtm) from August to September 2022.

Percentage Increase/Decrease of the Top 10 Non-Oil and Gas Export Commodity Groups (August-September 2022)

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Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

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Percentage Increase/Decrease of the Top 10 Non-Oil and Gas Export Commodity Groups (August-September 2022)

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The textile industry is facing a storm of layoffs. This is due to a significant decline in global demand caused by the threat of a recession in 2023.

This decline in demand is also evident in the value of exports of clothing and accessories or knitwear, which plummeted by 30.57% (month-to-month/mtm) from August to September 2022. The value fell from US$447.9 million to US$310.2 million.

Knitwear is one of the top 10 non-oil and gas commodity groups with the largest export value during that period.

In addition to knitwear, a decline in export value also occurred in animal and vegetable fats and oils, amounting to 31.91% (mtm). This change in export value was the largest from August to September 2022.

Export value also decreased in the category of machinery and electrical equipment and parts, reaching 7.05%. This was followed by a decrease in the export value of iron and steel (5.87%) and mineral fuels (1.63%).

The value of non-oil and gas exports from these 10 non-oil and gas commodity groups decreased by 9.63% from August to September 2022. The value fell from US$16.07 billion to US$14.52 billion.

Editor : Annissa Mutia

"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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Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

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Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

Amid Recessionary Fears, Knitwear Exports Plunge 30.75% in September 2022

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Related Data

Impact of the Sumatra Disaster, Indonesia's GDP Could Decrease by IDR 68 Trillion

Annual Inflation in Indonesian Provinces in November 2025, Riau Highest

China: Indonesia's Highest Value Non-Oil and Gas Importer in Q3 2025

China is the Top Destination for Indonesia's Non-oil and Gas Exports up to Q3 2025

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