JAKARTA - Minister of Industry (Menperin) Agus Gumiwang Kartasasmita supports furniture and handicraft exports to reach 5 billion US dollars in 2024.
"We from the government together with HIMKI (Indonesian Furniture and Handicraft Industry Association) want to realize the export target of US$5 billion by 2024," said Minister of Industry Agus at the Opening of the 2022 Indonesian Furniture Exhibition at JIExpo Kemayoran, quoted from Antara, Thursday, August 18.
He is optimistic that this target can be achieved considering that exports of the furniture industry in 2021 have reached US$2.5 billion, up 33 percent compared to the previous year.
In 2022, global furniture industry consumption is expected to grow by 3.9 percent, supported by European government policies to provide stimulus for economic recovery.
The global furniture industry revenue is also expected to continue to increase consistently from US$1.3 trillion in 2020 to US$1.8 trillion in 2025.
“We can clearly and clearly capture the global optimism in this industry. Therefore, the domestic furniture industry should not lose in capturing this opportunity,” added the Minister of Industry Agus.
Although it is estimated that there will be a decline in demand in the first quarter of 2022 due to inflation in the United States and Europe, the Minister of Industry estimates that demand from Indonesia's two main furniture export markets will recover soon.
"I see economic data in the US which I think has started to rebound, so God willing, it will have a positive impact on the furniture industry," said Minister of Industry Agus.
On the other hand, he ensured that he would follow up on the export of illegal furniture raw materials which made Indonesia lose added value from downstream industry and exports.
"This is also relevant to President Jokowi's speech which continues to emphasize the importance of downstreaming," said the Minister of Industry.
On average, 50 percent of Indonesian furniture is exported every year to the United States and another 20 percent to Europe.
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