\nAntara, Indonesia
\nakarta, (ANTARA News) – Domestic demand for textiles and garments fell 27 percent in the first quarter of 2014 due to high inflation resulting in a decline in the people`s purchasing power, an executive said.
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\n“Domestic sales particularly garment sales fell due to low consumption,” Indotextile Executive Director Redma Gita Wiraswasta said on Tuesday.<\/p>\n
Textile and garment sales in the first quarter of 2014 reached US$2.88 billion, with exports to the US contributing the biggest chunk to foreign exchange earnings from textile and garment exports, he said.<\/p>\n
Textile and garment exports to the US accounted for 40 percent of the total figure, he said.<\/p>\n
The European Union trailed behind in second place, buying 16 percent of Indonesia`s textiles and garments over the period. This was followed by ASEAN member countries (7 percent) and Japan (5 percent).<\/p>\n
Meanwhile, domestic sales contributed around 6 six percent or US$0.16 billion to the textile and garment sales, down 27 percent from the same period last year when it reached US$0.22 billion, he said.<\/p>\n
He predicted the domestic textile and garment market would stagnate until the end of this year following Bank Indonesia`s two-digit inflation forecast for this year.(*)<\/p>\n","protected":false},"excerpt":{"rendered":"
Antara, Indonesia akarta, (ANTARA News) – Domestic demand for textiles and garments fell 27 percent in the first quarter of 2014 due to high inflation resulting in a decline in the people`s purchasing power, an executive said.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n