Investment outpaces the economy
The Indonesian Textile Association (API) says H* **** textile and apparel investment reached IDR**.** trillion (~$*** million) (about $*** million at Bank Indonesia’s August * reference rate), up from IDR**.** trillion (~$*** million) a year earlier. Textile investment rose to IDR*.** trillion (~$*** million) (about $*** million), while apparel attracted IDR*.** trillion (~$*** million) (about $*** million).
That **.** per cent increase was faster than the *.* per cent rise in Indonesia’s economy-wide investment, which BKPM put at IDR*,***.* trillion (~$**.* billion) in H*. The sector also expanded *.** per cent year on year in Q*, according to industry groups, versus Indonesia’s official *.** per cent GDP growth.
The headline recovery is therefore real. The deeper question is where it is occurring.
