INDONESIAN GOVERNMENT LOOKS TO BOOST CLOTHING AND TEXTIE SECTOR UNDERMINED BY WEAK GLOBAL ECONOMY
September 22nd, 2023
The Indonesian government is looking to actively support the country’s textile and clothing industry as it faces a downturn in exports, depressed by soft economies in overseas markets facing high inflation and interest rates.
Trade has indeed fallen, said the Indonesia industry ministry, which told Just Style of a decline in both exports and imports in the first half of this year (2023), with clothing and textile exports dropping by 18.7% and imports by 19.8%. Exports had already been falling from March 2022 to March 2023, down by 10.78% in volume, said the ...
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