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Indonesia may miss its textile export target
09
Sep '11
According to the Indonesian Textile Association's (API) estimates, the country is likely to miss its textile export target for the current year because of the financial crisis in Europe and the US.

API Chief Ade Sudrajat said that the US and the European Union (EU) play a vital role in the growth of the country's exports.

He forecasted that the textile exports from the country may register a growth of just nine percent or less than the target of 15 percent set by the API.

The US and EU are the key export markets for Indonesian textiles and account for 36 and 14 percent respectively of the country's overall textile exports.

The fall in demand in the two countries would certainly have a bearing on Indonesia's textiles and textile products (TPT) exports, Mr. Ade said.

Indonesia's TPT exports in 2010 grew by 21 percent to US$ 11 billion and are projected to reach US$ 12 billion this year, with a year-on-year rise of nine percent.

The API Chief said that the country's industry would soon start feeling the effects of the financial crisis in the EU and the US, although the effects would not be as grave as witnessed during the 2008 financial crunch.

Fibre2fashion News Desk - India

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