The Indonesian garment and textile industry is booming. Many suppliers were fully booked for 2011 in 2010. One explanation is that foreign companies have turned to Indonesia because they have experienced problems in China.
Indonesia Textile and Garments covers Indonesia economic overview, Asia-Pacific Textile industry overview, Indonesia Textile industry overview, and the country’s textile development and legislation. It also covers the market trends in terms of textile and garment in Indonesia.
There is something intrinsically resilient about Indonesia, Southeast Asia’s largest economy, which has throughout its history, seen conflicts, struggles, upheavals and calamities and, yet, withstood them all to stride ahead. Indonesia’s manufacturing industry grew 5.6% on-year in the third quarter in the 3Q according to the Central Bureau of Statistics (BPS). The growth was stimulated by a number of factors, among others: better investment climate and national macroeconomic condition; higher export of non-oil and gas industries; and the ongoing industrial revitalization program to bolster competitiveness.
The Indonesian garment and textile industry or konveksi indonesia is booming. Many suppliers were fully booked for 2011 in 2010. One explanation is that foreign companies have turned to Indonesia because they have experienced problems in China. Several Indonesian suppliers are now reconstructing their factories to be able to meet increased orders, while others are planning to. market analysis
The 3Q2011 has seen the Euro zone sovereign debt crisis widening and intensifying at the same time as a weakening in the growth outlook for the US, EU, and some of the major emerging economies. The health of the European banking sector remains a major concern while its funding costs have risen. Policy uncertainty, particularly in relation to the response to the Euro zone debt crisis and on US fiscal policy (as seen in the federal debt ceiling negotiations), clouds the near-term outlook and weighs heavily on investor sentiment. Financial market volatility picked up sharply over the quarter. Large-scale selloffs of equities were seen as rising risk aversion prompted a “flight to quality”. Many commodity prices also declined, particularly raw materials. The big question is how might this deterioration in the global outlook impact Indonesia?
With its relatively low direct trade exposure to the EU and US, including strong domestic growth and solid fiscal position, driver’s of the Indonesian economy is comparatively well-placed to weather a real-economy external shock originating in high income economies. However, a relatively high exposure to foreign portfolio flows does pose risks to domestic financial markets. In the event of a significant downturn in investor sentiment, such exposure could hurt the real economy, despite any build up in foreign exchange reserves. It is therefore key that domestic policies are supportive of investor confidence i in the near term which enhance monitoring and crisis preparedness and t further build up resilience to market volatility.
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