Indonesian Ministry of Industry predicts textile growth of .%

Muhdori, director of textiles, leather, footwear and diversified industries of the Indonesian Ministry of Industry, said at a press conference on April 14 that the textile industry is one of the key industrial areas that will become the most dependent in the future. Therefore, During 2016, the government set a target that the growth rate of the textile, leather, footwear and diversified industries should reach 6.3% and contribute 2.43% to the GDP.
Mudori said: “The textile industry will continue to remain strong because it is a labor-intensive industry and has become a “social safety net” to support people’s income. In addition, it has also made the largest contribution in absorbing labor.”
He revealed that the textile industry ranks third in the country in terms of exports, absorbing a labor force of 2.79 million people, 70% of which are used to meet the domestic market’s demand for clothing.
He said that during 2015, the textile industry had contributed 1.22% to the GDP, with an export surplus of approximately US$4.31 billion. The total export value of the textile industry was as high as US$12.28 billion, or 8.17% of the country’s total export value.
He added that the textile industry also contributes a lot to the country’s foreign exchange, and the total investment value of the textile industry last year reached 573 trillion dong, an increase of 16.9% over 2014. According to records, foreign investment in the textile industry contributed 5.05% and domestic investment contributed 3.07%.

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