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Indonesian textile exports may touch $13.3bn in 2014: API
15
Apr '14
The value of textile exports from Indonesia is likely to touch US$ 13.3 billion, which would be an increase of 5 percent year-on-year, due to economic recovery in the US, the country’s biggest market, Ade Sudrajat Usman, chairman of the Indonesian Textile Association (API) said while addressing a press conference at his office in Jakarta.
 
Meanwhile, Indonesia’s textile exports to the EU are also expected to gain momentum as the Southeast Asian nation and the EU are planning to restart negotiations on a trade agreement. Once materialized, the EU-Indonesia trade deal is expected to increase Indonesia’s textile exports by three times within a five-year period.
 
In recent years, Indonesian textiles have lost market share in the EU from about 1.09 percent in 2007 to 0.89 percent in 2013, and hence, the EU-Indonesia trade agreement would be important for the Indonesian textile industry, Mr. Ade said.
 
He said Vietnam has overtaken Indonesia in world textile trade. Indonesian textiles have about 1.8 percent share compared to Vietnam’s 3.3 percent in the global textile market. Indonesia continues to stand at sixth position in the US imports, same as it was in 2000. However, Vietnam has jumped from 82nd position in 2000 to third position now, Mr. Ade said.
 
In 2013, Indonesia’s textile exports increased by 1.76 percent year-on-year to $12.68 billion, with the US, Japan and Turkey being the main markets.
 
API expects textile sales in the domestic market to rise by about 7 percent year-on-year to $7.5 billion this year.
 

Fibre2fashion News Desk - India

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