Trade

Indonesian footwear exports to expand

Mar 19, 2019 Indonesia

At least this is the belief of the local Industry Minister Airlangga Hartarto, who is optimistic about the performance of Indonesia's footwear exports in the coming years

According to reports on local news agencies, the Indonesian Industry Minister stated that footwear exports are expected to increase to 6.5 billion US dollars this year and reach 10 billion US dollars in the next four years.

“Indonesia has signed the CEPA with Australia and the European Free Trade Association [EFTA]. This has the potential to expand the export market for our manufactured products”, Airlangga commented (as quoted by Antara).

The footwear industry is one of the main pillars of the Indonesian manufacturing sector, able to contribute significantly to the national economy. According to local sources, this is reflected in the growth of the leather industry cluster, with leather goods and footwear recording a significant increase of 9.42% in 2018, as compared to 2.22% growth in 2017.

According to the latest edition of the World Footwear Yearbook (AVAILABLE HERE) in 2017 Indonesia was the 4^th largest producer of footwear with a 4.6% share (equivalent to 1.083 billion pairs) and the 6^th largest exporter with a share of 1.5% in world total (217 million pairs of footwear). In 2017, its exports set a new record by reaching 4.8 billion US dollars.

Photo by JOHN TOWNER on Unsplash

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