Indonesia's textile and textile products industry, a significant contributor to the nation's economy, is facing a critical challenge: attracting investments, particularly in crucial polyester production lines. According to the Indonesian Fibre and Filament Yarn Producers Association (APSyFI), the industry's growth potential is hindered by unclear and inconsistent regulations, which have stalled several investment plans, including those of major players like the Tongkun Group from China.
China's technical textile industry has maintained a robust growth trajectory in the first four months of 2024, marking significant advancements in key economic indicators and sub-fields, according to the latest data from the National Bureau of Statistics (NBS).
Vietnam's economic landscape in May 2024 continues to exhibit resilience and promising growth trajectories despite mixed signals in consumer demand and inflation stability, according to the latest insights from the World Bank's 'Vietnam Macro Monitoring' report.
China, a global powerhouse in textile manufacturing, experienced a notable downturn in its exports of knitted or crocheted fabrics during the year 2023. According to recent data, the country's exports in this category declined by 6.1% to reach 2.4 million tons. In terms of value, the contraction was even more pronounced, with exports totaling $12.9 billion for the year.
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