ASEAN KEY DESTINATIONS
Indonesia’s textile firms see slower export growth
With several major economies in the West likely to fall into a recession, Indonesian textile exporters are expecting export growth to rein in next year, reported a local daily.
The country's total export volume would expand by just 2.6 percent to 2.06 million tons in 2009, the Jakarta Post quoted Benny Soetrisno, chair of the Association of Indonesian Textile Producers (API), as saying at a seminar Friday.
This year, he said, the total volume of exports would reach 2.01 million tons, up by 7.45 percent compared to the total volume in
The total value of this year's exports is expected to reach $10.84 million.
To compensate for the sluggish demand for Indonesian products, Trade Ministry representative Subagyo said exporters must venture beyond traditional markets such as the United States and Western Europe countries.
"We have to strengthen our local market," he said.
Domestic consumption, Subagyo added, had been showing significant improvement, growing from 888,000 tons in 2001 to 1.22 million tons in 2007.