Indonesia’s textile industry export value to reach US$24 billion in 2024

Jakarta (Indonesia Window) – The industry of textile and textile products in Indonesia is always promising with the huge size of the domestic market, thus helping increase the export value which is projected to reach US$24 billion in 2024.

The Ministry of Industry noted that the performance of the national textile industry exports in 2016 stood at US$1.87 billion, then rose in 2017 at US$12.59 billion with a surplus of US$5 billion.

This positive trend continued until 2018 with an export value of US$13.27 billion. In 2019, the Ministry of Industry targets the industry exports to reach US$15 billion.

Meanwhile, in the first semester of 2019, the national textile industry export value reached US$6.45 billion.

In the meantime, the import value of the textile industry during January-June 2019 was recorded at US$4.07 billion, down from the same period in 2018 of around US$4.16 billion.

Reporting by Indonesia Window