Lifestyle sector promises Govt to fetch hefty revenues
16 Apr '08
1 min read
Exporters of lifestyle products have urged the Government to support funding, product design and a state unit responsible for promoting home décor and gifts for domestic as well as local markets.
This section of the economy had been completely neglected as insignificant, despite the fact that it contributed immensely to Indonesia's total exports last year.
Exports of these goods were recorded at US $1.2 billion last year and the figure is expected to grow by 5-8 percent in 2008. Infact, the figures were achieved even in the midst of US slow down.
Lifestyle products which includes, gifts, and souvenirs, home decorations, toys and stationery, suffered severe consequences as a result of baht appreciation, higher wages, shortage of skilled labor and high logistics cost.
Experts have evidence, that this industry has an abundant scope for growth backed by the buoyant demand in various countries especially in Europe and Japan.
Presently, there are some 37,000 Otop (One Tambon One Product) producers of which 38 percent are engaged in manufacturing lifestyle goods.
It is firmly believe that with a little support Lifestyle industry can become one of the most flourishing sectors earning high revenues for the country.