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Anticipation surrounds the forecasted decline in investment in the textile and textile products (TPT) sector for the upcoming year, shedding light on the dynamics of the global economy. The Indonesian Textile Association (API) predicts this potential downturn as a direct result of the current unstable global conditions. According to API Chairman Jemmy Kartiwa Sastraatmaja, factors such as the global economic downturn and high loan interest rates in the United States (currently at 5.5%) play a crucial role in assessing investment potential. His estimate suggests that the impact of the US Federal Reserve's interest rate cuts is expected to be felt only in 2025, beginning in late Q2 of 2024.

In a groundbreaking move, Bangladesh is poised to revolutionize its textile industry by significantly reducing cotton imports through the efficient recycling of garment waste. Industry insiders reveal that this strategic initiative not only promises substantial cost savings but also opens the door to billions in additional annual revenue.

Cambodia's textile-garment sector has encountered a significant decline in exports, registering a 14.8% year-on-year (YoY) drop in the first 11 months of 2023. According to data from the commerce ministry, global economic slowdown, particularly in the European Union (EU), is cited as the primary factor behind this downturn.

The Export Promotion Bureau (EPB) reports a decline in Bangladesh's Ready-Made Garment (RMG) exports to traditional markets, including the United States, the European Union (EU), and Germany during the first five months of FY’23. However, the country is finding support in the growth of exports to non-traditional markets, such as Australia and Japan.

  1. Bangladesh Garment Industry Takes a Stand Against Unfair Discounts
  2. Japan’s Apparel Retail Market Flourishes, Hits US $87 Billion in 2023
  3. Fluctuating Yarn Prices Hit Small Spinning Mills in Pakistan
  4. Crisis Hits Indonesian Textile Industry: Factories Close, Mass Layoffs Continue