Archive: 24 September 2024
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Tue, 24 Sep 2024, 14:52 WIB
Indonesia's Footwear Industry Shows Strong Growth but Domestic Market Remains Untapped
Indonesia's footwear industry achieved 3.92% growth in Q2 2024 and ranks among the world's top five producers, with exports valued at US$3.7 billion in the first half of the year. However, the domestic market remains dramatically underdeveloped, with average Indonesians purchasing only one to two pairs of shoes annually despite the nation's 282 million population. The government has introduced a machinery restructuring programme offering subsidies of 25-40% to boost local manufacturing capacity