Indonesia's textile exports up 19.7-pct to US$12.1bn

JAKARTA, Feb 3 (AsiaPulse) - Indonesia's exports of textiles and garments rose 19.68 per cent on-year to US$12.1 billion (Rp108.17 trillion) but fell 1.5 per cent in volume last year.

The export earning was still below the target of US$13.1 billion set by the Indonesian Textile Association (API).

The exports were not up to target because of weak demand in the main traditional markets, United States and Europe, which are still be set by financial crisis.

In the last quarter of 2011, there were significant cut and cancellations of orders from the two regions, API chairman Ade Sudrajat said yesterday.

Sudrajat said the cut in order is feared to continue through this year, therefore, export target will likely be revised down to US$13 billion from US$13.7 billion set earlier.

He expressed hope that domestic consumption, which normally is not more than 40 per cent of the production, could be increased to offset the decline in export. (ANTARA)

Source http://www.lankabusinessonline.com, accessed on Februari 3rd 2012