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Thursday, 24 June 2021 12:13

Indonesia’s garment and textile exports fall due to the pandemic

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Indonesia’s garment and textile exports are projected to drop during the first seven months of this year on account of COVID-19. According to Indo Textiles, Indonesia exports around 70 per cent of its textiles to the United States, the European Union, and the Middle East. In 2019, it exported $9,172.36 million worth of garments and fabrics, reports Textile Focus.

Due to the pandemic, value of Indonesia’s exports declined 15.94 per cent year-on-year to $ 7,709.94 million last year. It is predicted to drop further by 6.72 per cent from January and July 2021. Since January 1, Indonesia has been implementing the Omnibus Law to create new employment, stimulate investment, lower taxes, simplify licensing procedures, and improve the ease of doing business for both domestic and foreign producers. The Indonesian Trade Promotion Center (ITPC) and the Indonesian Embassy in Mexico recently worked to increase home décor and textile exports to Mexico. The agreement includes the market for Balinese clothes and textiles in Mexico, as well as Indonesian furniture.