SRIL and PBRX Issue Global Bond

Textile Stakeholders Request Strengthening Industrial Integration

Parliament Asks to Control Illegal Importation of Textiles

IKATSI Reveals Details of Import Violations

MOI Optimizes Sustainable Resources For Industrial Production

Britain Will Ban Imports From China

RPP on Industry and Trade is Less Favorable to Local

Textile Industry Optimistic Could Recover This Year

Trade Surplus, Textiles Industry Still in the Red Zone

APR Encourages Supply Chains as the Focus of the Road Map

Pakistan's Exports to Indonesia Supported by Textile Products

ARGO Optimistic Will Improve Performance in 2021

APSyFI : PLB Threatens to Eliminate US $ 8.3 Million Yarn Exports

Stake Holder : Textile Industry Needs Fundamental Changes

The Indonesian Textile Association (API) assessed that the utilization of the domestic textile and textile product (TPT) industry showed a positive performance, or was in the 80 percent position towards the end of 2021. This was supported by the relatively high export performance following the energy crisis in China. API General Chair Jemmy Kartiwa Sastraatmaja said in general, the utilization of the domestic textile industry has returned to normal. "Utilization of the textile industry has improved, our utilization is above 70 percent to 80 percent, it is close to normal if you can say," said Jemmy by telephone, Monday (11/8/2021).

 

The trend of performance recovery, said Jemmy, helped restore confidence in banks to channel credit for efforts to expand or increase domestic production capacity. In fact, he said, banks have been relatively careful in extending credit to the garment sector.

“Banks have started to open their taps again when they withdrew yesterday. Now they can read government policies that are already pro-industrial,” he said.

Previously, the Director of Textiles, Leather and Footwear of the Ministry of Industry (Kemenperin) Elis Masitoh said that there was a process of delaying debt payment obligations (PKPU) in a number of large domestic textile issuers such as PT Sri Rejeki Isman Tbk (SRIL) and PT Pan Brothers Tbk (PBRX). ) has no negative effect on industrial performance.

"The existence of problems from several major garment issuers does not affect their export performance because they are not related to the production of these issuers, they are still operating as usual," Elis said via WhatsApp message, Monday (11/8/2021).

In fact, said Elis, the two textile issuers have recorded requests from importers until 2023. On the other hand, he added, the two issuers will absorb 4,000 workers to meet the importers' demands.

"Currently, apart from the two issuers, several export-oriented garment industries are also experiencing an increase in buyer orders until 2023," he said.

Based on data from the Ministry of Industry, the export volume of textile products with the HS code 61 reached 185.69 tons in the third quarter of this year. The record was higher than last year's quarter which was 169.14 tons. The export value of textile products reached US$3.08 billion.

Meanwhile, for HS code 62, which is clothing or non-knitted clothing accessories, the export volume until the third quarter of 2021 reached 121.09 tons. The volume was lower than the notch in the third quarter of last year which was at 125.52 tons. The export value of the HS 62 coded textile product reached US$2.93 billion.