Textile and Garment Industry of Indonesia; More than Just Clothes, but Challenges Persist
However, Indonesia’s textile trade can be going through a number of severe challenges. Not solely has the COVID-19 disaster impacted brutally on this trade (which has led to an estimated 65 % of textile staff being despatched dwelling quickly), but there has additionally been a structural lack of new funding on this trade lately, whereas current gamers have been needing to compete with a rising quantity of imports from overseas into Indonesia (significantly from China). Indonesia’s Textile Industry in Global Perspective Despite ongoing challenges, Indonesia does rank among the many world’s largest textile producing international locations. Based on worldwide textile output in 2019 (which was earlier than the COVID-19 disaster disrupted the entire world financial system), Indonesia ranked sixth; an honest rating, though Indonesia finds itself far behind world primary, China, in phrases of world market share. China leads, primarily because of its rising manufacturing and...