Since the COVID-19 epidemic, the textile industry has contracted, slowing the July 2023 Industrial Confidence Index (IKI). The July 2023 IKI was 53.31 points, down from 53.93 in June. New orders, production, and product supply supported this expansion. 32% of industrial business actors reported increased business activity conditions, compared to 22.6 percent who reported deteriorating conditions. Most businesses reported stable conditions in July 2023.The holiday season and school entrance in Indonesia caused a delay in orders in various subsectors, including clothing and upstream. The textile and processing sectors are continuing to contract. Export-dominated textile and garment ecosystems are shrinking the industry.The COVID-19 epidemic and the thrifting of Chinese secondhand clothing caused the textile and apparel sectors to contract in China, America, and Europe. The administration is contemplating fiscal and non-fiscal policies to reduce Chinese imports. Restructuring programs by the government also improve fiber, yarn, and fabric quality and quantity. Chemical, Pharmaceutical, and Textile Industries (IKFT) exports rose to $21.90 billion from 2021 to semester 1-2023. Most IKFT sector investments go to chemical goods and rubber goods.Link di fonte: https://www.kompas.id/baca/ekonomi/2023/07/31/meski-tetap-ekspansif-indeks-kepercayaan-industri-juli-2023-melambat (ICE GIACARTA)

Fonte notizia: Kompas - 31 July 2023