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Indonesian textile-garment sector expanded by 20.71% in Q2

14
Aug '19
Pic: Shutterstock
Pic: Shutterstock
Indonesia’s industrial sector contributed the most—19.52 per cent—to the nation’s economic growth, which was recorded 5.05 per cent in the second quarter of 2019. Sectors that supported the non-oil/non-gas manufacturing industry in 2019 second quarter included textile-garments, which expanded by 20.71 per cent because of rise in production in several centres.

The country’s manufacturing industry is growing positively and the spirit and trust of businesses to invest and expand is also high, according to industry minister Airlangga Hartarto.

According to the Central Statistics Agency (BPS), the manufacturing industry was the largest contributor to the national economic growth in the May-June 2019 quarter, contributing 0.74 per cent. The agricultural sector contributed 0.71 per cent, while the trade sector’s and the construction sector’s shares were 0.61 per cent and 0.55 per cent respectively, a news agency reported.

The performance of the manufacturing sectors exceeded the economic growth in the same quarter. Overall, the non-oil/non-gas manufacturing industry in the second quarter of 2019 grew 3.98 percent year-on-year.

The Indonesian economy expanded 5.05 per cent in the second quarter of 2019, indicating a downward trend owing to the continued export contraction and slow investment growth, the BPS stated. The figure decreased from 5.27 per cent during the same period last year and from 5.07 per cent in the first quarter of 2019. (DS)

Fibre2Fashion News Desk – India


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