Indonesian shoe exports could fall by 2023% in 40
According to the Indonesian Association of Footwear Manufacturers (Aprisindo), the country's footwear exports could fall by around 35-40% in 2023 to 4,64 billion euros compared to the previous year.
In 2022, Indonesian footwear exports totaled $7,74 billion, up 25,12% from 2021 and 8,96% from 2020.
“Last year we had impressive growth. [...] But buyer orders started to fall in mid-2022,” Aprisindo chief executive Firman Bakri told the business newspaper Investor Daily, noting that orders from key markets such as the US and some European countries have fallen sharply.
According to the World Footwear 2022 analytical bulletin, the US is the main export market for Indonesian footwear. However, it says that Indonesian shipments to China have increased by 142% over the past five years to $656 million in 2021.
Firman Bakri suggests that the downward trend in Indonesian footwear exports may continue until 2024, noting that the domestic market cannot absorb products sent for export. “Our exports are premium products, while the domestic market is not premium products, goods for export and goods for the domestic market are in different segments,” Firman said.
According to the Indonesian Association of Footwear Manufacturers (Aprisindo), the country's footwear exports could fall by around 35-40% in 2023 to 4,64 billion euros compared to the previous year,…
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