Indonesia has downwardly revised its current year target for its textiles and garment exports to US$ 13 billion from the earlier US$ 13.7 billion, following its failure to achieve the last year's target.
In 2011, Indonesia exported textiles and garments worth US$ 12.1 billion, as against the target of US$ 13.1 billion.
Last year, Indonesian textile and garment exports grew by nearly 20 percent year-on-year. In comparison, the new target of US$ 13 billion is only 7.5 percent more than the US$ 12.1 billion achieved in 2011.
Meanwhile, there is an increase in local consumption of textile and garment items, and hence the domestic market is likely to increase its share of consumption from the current 40 percent to 50 percent, according to Indonesian Textile Association (API).
Currently, Indonesian textile industry utilizes 70 percent of its production capacity and this can be further improved to 90 percent, if adequate infrastructure is raised and there is no power cut, API added.
Fibre2fashion News Desk - India
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