Textile Industry Grows 7.43% in Q3/2024 despite Many Factories Closing: https://ekonomi.bisnis.com/read/20241105/257/1813503/industri-tekstil-tumbuh-743-kuartal-iii2024-meski-banyak-pabrik-tutup/5 November 2024
The textile and apparel industry recorded positive growth of up to 7.43% (year-on-year/yoy) in Q3/2024. Despite being hit by various issues of layoffs (PHK) and factory closures, the implementation of trade restrictions has been a breath of fresh air for the industry. Referring to data from the Central Statistics Agency (BPS), the growth of the textile sub-sector business field to gross domestic product (GDP) was higher than the same period the previous year of -2.72% yoy and higher than Q2/2024 of -0.03% yoy.

Secretary General of the Indonesian Filament Fiber and Yarn Producers Association (APsyFI) Farhan Aqil said that if we look at the trend in the last few years, textile growth in certain periods has skyrocketed positively due to the existence of trade restriction policies in the form of safeguards or import duties for safeguard measures (BMTP).

Prospect of Textile Industry and Textile Products, This is the Plan of the Ministry of Industry: http://industri.bisnis.com/read/20170916/257/690534/prospek-industri-tekstil-dan-produk-tekstil-ini-rencana-kemenperin/16 September 2017
The Ministry of Industry stated that textile industry and textile products (TPT) have great potential to grow and develop in the future. Therefore, based on the National Industrial Development Master Plan (RIPIN) in 2015-2035, the sector is prioritized in its development in order to be able to contribute significantly to the national economic growth.

Currently, the TPT industry operating in Indonesia has been integrated with the classification in three areas. First, the upstream sector is dominated to produce fiber products. Second, the intermediate sector, namely companies whose production processes include spinning, knitting, weaving, dyeing, printing and finishing. Third, the downstream sector in the form of garment factories and other textile products. So the Ministry of Industry estimates that textile industry exports will grow an average of 11% per year. And in 2018 set at US $ 13.5 billion of the target in 2017 of US $ 12.09 billion.