In the upcoming year of 2019, the industry sector of Textile and Textile Products (TPT) has been predicted to find a midpoint within the growth of their business. As a political year, the demands of textile products is predicted to face a rise. Based on that alone, PT. Globalindo Data Utama has forecasted that the TPT industry sector will meet a rise of up to 0.69% in comparison to the previous year of 2018 of which was an impressive 8.06%.
The election process predicts that will host the domestic sales of TPT of at least 10% in 2019, which was based on the industrial growth of TPT during the 3rd quarter of 2018, reaching up to 10l.17% and the ongoing prediction of progression to keep improving.
Ketua Umum Asosiasi Pertekstilan Indonesia (API) has stated that although elections are commencing next year, the process of printing shirts and other necessities has already begun. This coming December is predicted to see a slight enhancement of performance in the TPT industry sector for the 2019 elections.
Furthermore, the prospects of National TPT will strengthen as the export performance improves. It is estimated that the exportation of TPT will be larger than during the 4th quarter of 2018 than the previous quarter. The garment products exported are winter collections of which is more expensive than other seasons of the year due to the thickness of the material. By saying that, the growth of TPT in the 4th quarter will be greater than the 3rd quarter, reaching 10.17% according to data from the BPS.
Up until the end of this year (2018), TPT export is predicted to grow to 9%, close to 14 Million USD compared to the previous year of 12.78 Million USD. Posing a record of the highest value in history. The trend is predicted to continue through 2019 with the export growth of TPT in 2019 and predicted to stay at 9%. To officially sustain this target, API needs to see growth in the world’s economic conditions, such as whether or not the unhealthy competition between Tionkok and the US will continue. Thereafter, will Indonesia conclude the discussion of trade with Uni Europe or not. Everything has heavily relied upon these factors.
Aside from that, Kementerian Perindustrian (Kemenperin) estimates that TPT’s export industry will grow around 11% every year. 2018 is pegged at 13.5 Million and 12.09 Million USD in 2017. Alongside labor in 2018, hopes of the sector absorbing around 2.95 million people and up to the end of this year of 2.73 million people.
Based on the data from the United Nations Industrial Development Organization (UNIDO), Indonesia is sitting at 9th place in the world regarding Manufacturing Value Added. This position is in line with Brazil and England, even higher than Russia, Australia, and other ASEAN countries. Due to this, Kemenperin continues to spur the downstream industry used to heighten value added within the country.