00:00Indonesia's Textile Industry and Manufacturing Industry
00:05The government notes that the growth of the textile industry and textile products is slowing down
00:10as the Purchasing Manager Index of Indonesia's Manufacturing Industry is shrinking.
00:14Although the demand is still there, the trade competition from imported products
00:19makes the textile industry and textile products under pressure.
00:24The Government notes that the growth of the textile industry and manufacturing industry
00:29is slowing down as the Purchasing Manager Index of Indonesia is shrinking
00:34According to Minister of Finance, Sri Mulyani, at least four industries are under pressure in July 2024
00:41They are the textile industry and textile products, the footwear industry, the rubber industry and the engine industry.
00:49The Ministry of Finance notes that the growth of the textile industry and textile products in July 2024 must be stagnant at 0%
00:57while the footwear industry only grows 1.9% annually
01:02The rubber industry is noted to be able to grow 2.1%
01:06and the engine industry showed a 1.8% contraction in July 2024
01:13According to Sri Mulyani, although the demand is still there,
01:17the trade competition from imported products makes the industry sector under pressure
01:24This shows that the manufacturing sector is under pressure
01:29Either it is because of the competition of imported goods
01:33and because the minister is involved, they will take steps
01:39The Minister of Finance will make a decision
01:42whether to use the income tax, the tariff, or other ways
01:51As we know, the Manufacturing Index of Indonesia is at 49.3
01:56or in the contraction zone in July 2024
02:00This figure dropped 1.4 points from the previous month
02:03The decrease in the Manufacturing Index is due to a decrease in market demand
02:07resulting in a decrease in export efficiency
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