The textiles and clothing value added in Indonesia experienced a significant volatility over the past decade, peaking in 2019 at 13.33 units before a sharp decline in 2020. The period from 2021 to 2023 showed modest recovery, with a 3.25% year-on-year increase in 2023 to reach 13.09 units. The Compound Annual Growth Rate (CAGR) over the last five years lingered around 0.31%, reflecting a slow but stable growth trajectory.
The forecast for 2024-2028 indicates a steady holding pattern with the value remaining at 13.09 units annually, signifying no expected growth (CAGR of 0%). This suggests a stagnant market scenario unless substantial investments, innovations, or policy changes are introduced.
Future Trends to Watch for:
- Technological advancements and automation in textile manufacturing
- Shifts toward sustainable and eco-friendly production processes
- Changes in trade policies and international market demand
- Impact of global economic factors and consumer trends
- Government initiatives to boost the textile sector
