Minister Of Industry: Indonesian And Indian Manufacturing PMIs Are Always Expansive In Defeating China To The US

Minister of Industry (Menperin) Agus Gumiwang Kartasasmita said Indonesia became the second country after India with the Manufacturing Purchasing Managers' (PMI) level which was above level 50 for 25 consecutive months.

This achievement also shows that Indonesia's manufacturing industry is still at the expansion level to date.

"Our PMI has also been at the level of above 50 for 25 consecutive months, meaning that the expansion and only two countries in the world have recorded their PMIs above 50 for 25 consecutive months, namely Indonesia and India," said Minister of Industry Agus in his remarks at the Gebyar IKMA 2023 agenda at The Kasablanka Hall, Jakarta, Thursday, December 14.

Minister of Industry Agus explained that no other country in the world could achieve these results. For example, such as Vietnam, Thailand, China, Japan, and even a developed country in the United States.

"Only Indonesia and India have for 25 consecutive months their PMI is above 50 and this also proves the resilience of the Indonesian manufacturing industry, especially IKM," he said.

In addition, Agus said that the non-oil and gas processing industry sector in Indonesia also showed excellent performance and still proved itself as the main driver of the national economy.

This is evident from the growth of the non-oil and gas processing sector which reached 5.02 percent until the third quarter of 2023.

"This is quite healthy, but the most important thing is the growth of this manufacturing sector above the national economic growth which was recorded at 4.94 percent," said Agus.

Furthermore, Agus said, exports of the Indonesian manufacturing industry also exceeded the figure of 155.16 billion US dollars or the equivalent of 72.4 percent of total national exports, until October 2023.

Meanwhile, investment for the manufacturing industry in the country was recorded at IDR 413 trillion, until the third quarter of 2023. "This is a record of 40 percent of the total national investment," he said.

According to Agus, the achievement of the manufacturing industry is a joint collaboration that has been carried out so far. "I give appreciation to all," he added.