Textile Or Indonesia's Largest Export Product

from Hong Kong A report recently released by Shanghai HSBC Limited (HSBC) predicts that Indonesia's textiles will exceed its daily necessities and become its largest export product starting this year.

　　 HSBC Ms. NirmalaSalli said that HSBC is engaged in international trade and accounts receivable financing in Indonesia. The development of Indonesia's textiles and clothing industry needs to be driven by the revival of the European market.

She added that Indonesia has been in the past three years. textile And clothing exports did not grow significantly because of the slow recovery of Indonesia's main export markets, such as Europe and the United States. But now the global market has improved, especially in the United Kingdom and the United States.

She pointed out that many banks still have credit risks in the textile industry, and pointed out that further development of the industry will bring more investment, which will affect bank financing.

According to HSBC's global joint report this month, Indonesia's trade confidence index (TCI) is 119, slightly deviating from the 100 intermediate benchmark. Although the TCI index has declined from the previous 127, it is still optimistic for Indonesia.

According to MS NirmalaSalli, the economic improvement in China and India will boost their demand for Indonesian products. By 2030, the two most populous countries in the world are expected to become the first and second most popular export destinations in Indonesia. At the same time, Japan, Malaysia and Singapore will occupy third, fourth and fifth respectively.

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The Asian Development Bank maintained its forecast for Kampuchea's future economic growth in April, that is, 7% in 2014 and 7.3% in 2015.

This good prediction is supported by the following changes: Recently, it has suppressed the unease brought by last year's national election and the labour strain brought by the minimum wage in February.

Jan Hansen, a senior economist at the Asian Development Bank, said that Kampuchea's economy is expected to remain in good shape in the next 2 years, reflecting a gradual increase in political stability and overall economic management and will further enhance investor confidence.

The report also indicated that the export of garments and textiles will grow by 14.5% in the first half of this (2014) year, reaching US $2 billion 800 million, down slightly from 17% in the same period (2013) in the same period, while the total export growth rate of commodities decreased slightly from 27% in the same period last year to 20%, while imports dropped from 24.7% to 6.7%. The growth rate of Kampuchea tourists was 5.2%, reaching 2 million 200 thousand times, still down sharply from the same period last year.

The report also points out that inflation is expected to be higher than last year, with 4.4% and 4% expected in 2014 and 2015 respectively.

This year, the government budget deficit accounted for 11.3% of the GDP ratio, while foreign exchange reserves amounted to $3 billion 900 million, which was sufficient to support imports of goods and services for 3.8 months.