Indonesia'S Textile Industry Says Next Year Its Exports Will Be Affected By European And American Markets.
Indonesia
Danamon Bank economist says Indonesia
Exit
Guided industries will be affected by the global economy
slow down
As a result of the sluggish demand, the commodities that are mainly exported to overseas markets will be faced with a downward trend in prices.
Industries that rely on imported raw materials may be subject to us dollar liquidity.
trade financing
The problem is that the more dependent industries of imported raw materials are, the more vulnerable industries will be affected, such as pharmaceuticals, textiles, garments, electronics, shoemaking and paper products.
Industries that use local raw materials or sell to local markets, such as cement, cooking oil and sugar, are less susceptible.
Economic analysts also point out that industries that rely on imported raw materials and intermediate products will be affected by exchange rate fluctuations. Conversely, industries with local materials or domestic demand are less likely to be affected.
exchange rate
Fluctuations.
Indonesia Textile Association (API) said that because of the slowdown in European and American markets, orders for goods from Europe and the United States began to show signs of decline in September this year, and may gradually decrease in the coming months. The association will reduce its original export growth target from 24% to 20% this year, and set an export growth target of 5% in the next year, which is lower than the previous annual growth target of 20%.
The Indonesia Electronics Industry Association (GABEL) said that the global economic uncertainty has gradually affected consumption intention, and global demand is likely to decrease in the coming year, especially in the US and Europe.
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