Indonesia’s 5% Decrease

Indonesia’s 5% Decrease

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A decrease of 5% has been forecasted by the Indonesian Textile Association (API) for the Indonesian textile and garment in 2017. This bleak estimate by the API is due to a decrease in overseas demand caused by the global economic downturn, which likely will last until 2018.

Initially the 2017 target for textile and garment exports was set at US$12.7 billion, This would have predicted a 3% growth rate, but because overseas demand had not grown as expected, this year’s exports are estimated to decreased by 5%.