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Indonesia's knitwear exports drop 2.34% in Jan-March'14

14 May '14
2 min read

The exports of knitted or crocheted apparel and clothing accessories (under HS code 61) from the Southeast Asian nation of Indonesia dropped marginally by 2.34 percent to US$ 844.7 million in the first three months of the current year, compared to exports of $864.9 million made during the corresponding period of last year, the data from Statistics Indonesia showed.
 
In March 2014, Indonesia’s knitwear exports stood at $269.3 million, showing a decline of 2.09 percent over exports valued at $275.1 million made in February 2014.
 
Knitted garments and apparel accessories exports accounted for 2.32 percent share in Indonesia’s non-oil and gas exports during January-March 2014, according to ‘The Overview of Indonesian Export and Imports’ released by Statistics Indonesia.
 
Meanwhile, Indonesian cotton imports increased by 2.65 percent year-on-year to $612.3 million in January-March 2014, compared to imports of $596.5 million made during the same period of last year.
 
In 2013, Indonesia’s textile and apparel exports increased by 1.76 percent year-on-year to $12.68 billion, with the US, Japan and Turkey being the main markets.
 
Indonesian Textile Association (API) expects the value of textile and apparel exports from Indonesia to increase by 5 percent year-on-year and touch $13.3 billion in 2014, mainly due to economic recovery in the US, the country’s biggest market. However, the recent increase in electricity tariff may act as a dampener, according to industry analysts.
 

Fibre2fashion News Desk - India

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