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Competitive Industrialization

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KOMPAS/ERWIN EDHI PRASETYA

Production activities take place in the garment division of PT Sri Rejeki Isman Tbk or Sritex in Sukoharjo, Central Java, on Wednesday (13/02/2019). The textile industry still has many opportunities in the domestic and export markets but faces challenges in terms of efficiency and global competition.

Indonesia again suffered a trade deficit in January 2019, partly due to the fall in world commodity prices. Industrialization should, therefore, be prioritized. The deficit occurred because non-oil and gas as well as oil and gas exports fell sharply, even though imports of oil and gas and non-oil and gas commodities reduced significantly, according to the last week’s report from Statistics Indonesia (BPS).

Coordinating Economic Minister Darmin Nasution said the government would impose a short-term policy to prioritize industrial commodity exports instead of raw commodity exports. In our experience, raw commodity exports do not guarantee sustainable and quality economic growth.

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