Textile Industry Predicted To Contract, Local Market Flooded With Imported Products

The Indonesian Fiber and Filament Yarn Producers Association or APSyFI projects that the Textile and Textile Products industry will grow negatively by up to 7% on an annual basis. This is caused by the domestic TPT market being filled with imported products.

APSyFI General Chair Redma Wirawasta found that imported products dominate up to 60% of local market capacity. The dominant imported textile products are apparel and garments.

Therefore, Redma said that some textile factories are currently not producing. In general, the textile industry is currently producing to meet demand during Christmas 2023 and New Year 2024.

"We are a bit pessimistic about being able to get the Nataru Market, because imported goods are coming in continuously. So, the imported goods haven't finished yet, other imported textiles are continuing to come in," said Redma, Thursday (14/9).

Therefore, Redma projects that the growth of the textile industry in the third quarter of 2023 will decrease by up to 5% on an annual basis. This figure is lower than the realization in the second quarter of this year which grew negative 1.7%.