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Textile industry finds it tough to achieve export goals

16
Sep '08
Like various nations across globe struggling to meet their export targets, Indonesia too, is finding it difficult to achieve its goal of earning US $11 billion through exports of textile and textile products this year. The global economic slowdown, increased price of raw material and lack of demand from overseas buyers are some of the reasons for declining exports of the country.

During the first six months of this year the export earnings of the nation reached around $5.2 billion, showcasing a slight increase of 6 percent compared to last year's hike of 8.9 percent during the same period.

Industry insiders believe that the demand for various textile and textile products usually boosts in the second half of the year, and the same trend is anticipated this time also and that may help Indonesia touch the set export target.

The entrepreneurs have observed a boost in demand from US as the Chinese textile industry was experiencing an upheavel due to RMB appreciation, increased cost of raw materials and rise in wages of labourers. All this lead to hike in the rates of finished products, making them expensive when compared to other neighboring countries.

However, the exporters fear that due to the recession in the US market the demand of textile and textile products may remain dull, which will directly hamper the overseas earnings of the nation, making it tough for entrepreneurs to attain set goals.



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