Textile Exports Reaches $6.2 Bln

Textile and garment exports of Indonesia reached US$ 6,2 billion during the period January to September 2003, while the target was set at US$ 7 billion.

The foreign exchange earnings from the textile exports were the same as 10 percent of oil and gas exports reaching US$ 59 billion, Chairman of the Association of Indonesian Textile Producres Benny Soetrisno said during the opening of the association`s conference in Sanur, Bali.

He explained that in 2000 Indonesia earned US$ 8.4 billion from the export of textile and garments, in 2001 US$ 7.6 billion and in 2002 US$ 6.8 billion.

He blamed the lowering price of textile for the downturn, noting that the average price of textile dropped sharply from 5.8 dollars per kg in 1997 to 3.9 dollars in 2002.