Home / Knowledge / News / Textiles / Textiles will be Indonesia's largest export segment: HSBC
Textiles will be Indonesia's largest export segment: HSBC
27
Mar '14
Beginning this year, textiles will gradually become the largest export segment in Indonesia, overtaking the commodity-based segment, predicts a report published recently by the Hongkong and Shanghai Banking Corporation (HSBC).
 
HSBC’s Indonesia head for global trade and receivable finance, Nirmala Salli, said the growth of the Indonesian textile and apparel industry would be driven by recovery in the European market, The Jakarta Post reported.
 
Ms. Nirmala said Indonesian textile and garment exports did not grow significantly for the past three years, solely because of the slow economic recovery in Indonesia’s main export markets such as Europe and the United States. But now there is an improvement in the global market, particularly in the UK and the US, she added.
 
She informed that many banks still have credit exposure in the textile sector, and added that further development of the sector will lead to greater investment, which would impact bank financing.
 
The HSBC’s Global Connections Report, published this month, shows Indonesia’s Trade Confidence Index (TCI) at 119, against the neutral benchmark of 100. Although the TCI had dropped from the previous 127, it is still positive for Indonesia.
 
According to Ms. Nirmala, the economic improvement in China and India will lead to a greater demand for Indonesian products. She said the world’s two most populated countries are expected to become the first and second top destinations for exports by 2030, while Japan, Malaysia and Singapore would occupy the third, fourth and fifth positions, respectively.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 26th Aug 2016

China may increase pilot cross-border e-com cities

Cross-border e-commerce is becoming a new driving force of China’s...

Textiles | On 26th Aug 2016

Vigorous global competition challenge for EU textile firms

Vigorous global competition is among the main challenges for the...

Apparel/Garments | On 26th Aug 2016

Japan’s clothing imports down 7.1% in H1 2016

In the first six months of 2016, Japan’s clothing and accessories’...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search