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INDONESIAN TEXTILE BODY PREDICTS 10 PCT FALL IN ANNUAL EXPORTS.
JAKARTA, Aug 1 Asia Pulse - The Indonesian Textile Association (API) predicted a ten per cent fall in textile and garment exports at US$7.2 billion this year.
API executive Indra Ibrahim said the decline could be seen from the fact that textile and garment factories could operate only at 40-50 per cent of their installed capacity this year.
"Many factories have even ceased or reduced production because of weak demand and falling prices in the world market," Ibrahim said yesterday.
He said Indonesian textile industry could not compete well because of the delay in the process of restructuring to replace old machines.
The condition would be worse unless the government issues a new policy that could improve the competitiveness of the industry, he added.
According to the ...
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