Posted December 15, 2018 18:00:53 Indonesia has set a goal to produce more than 1.2 billion kilogrammes of textiles annually by 2020, according to a report by the country’s government.
The government said Indonesia will make $1.25 billion of investment in its textile industry by 2020.
The report also said Indonesia has the second largest textile production capacity in the world behind China and India.
The textile industry has long been an important source of income for the Indonesian government, which is struggling to deal with the economic downturn and a recent surge in corruption scandals.
The rise in the number of garment factories in Indonesia has been linked to the countrys textile industry boom, but the government has not provided a detailed estimate for the increase in the production of clothing.
Indonesia is known for producing some of the world’s highest-quality garments, but recent political changes in the country have led to more stringent export controls and restrictions on importing clothes and other goods.
Indosia’s textile exports to China fell more than 70 per cent in 2016, according a Reuters analysis.
China, which was Indonesia’s largest trading partner in 2017, has also been a major supplier of clothing to the Asian giant.
A total of $8.6 billion of textile exports were made to China in 2017 alone, according the report.
The industry is expected to contribute as much as $100 billion in additional annual economic activity to Indonesia, according government figures.
Indias exports to the world reached $2.2 trillion in 2017.
The Government of Indonesia said in a statement that Indonesia has “a rich textile industry with a highly competitive business environment, strong economic growth potential and diversified supply chains, while also supporting its national development”.
“It will be possible to achieve an overall increase in textile exports in the near future,” the statement said.