Both nations are currently making efforts to strengthen their relations in various domains. Last week, Indonesian President Joko Widodo met Chinese President Xi Jinping in Chengdu, capital city of southwest China’s Sichuan province.
While both countries are among the major apparel suppliers of the world, Indonesia’s garment industry is heavily dependent on China for fabric sourcing.
China’s fabric exports to Indonesia stood at $2.913 billion in 2019. They fell to $1.771 billion in COVID year 2020. The trade recovered to $2.688 billion in 2021. It further increased to $3.361 billion in 2022, according to Fibre2Fashion’s market insight tool TexPro.
On a quarterly basis, China’s fabric exports were recorded at $702.243 million in first quarter of this year. It was valued at $772.580 in Q4, 2022, $830.677 in Q3, 2022, $942.141 in Q2, 2022 and $816.283 in Q1, 2022.
As per TexPro, China’s apparel exports to Indonesia eased in 2022 after steep rise in the preceding year 2021. This year, the exports reached $151.982 million during the first four months. The shipments were noted at $679.005 million in 2019 which eased down to $650.662 million during 2020. But it shot up to $1,059.983 million during the next year 2021.
On the other hand, China’s imports of apparel from Indonesia were worth $88.107 million during the first four months of this year. In 2019, the value was $363.301 million, which decreased to $294.514 million in 2020. The value increased to $358.235 million in 2021, but dropped slightly to $329.008 million in 2022.
ALCHEMPro News Desk (KUL)
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