The textile and textile products industry (which includes garments or clothes) is a very important one for the Indonesian economy because this industry ranks among the country’s biggest foreign exchange earners (thanks to strong exports), while also providing jobs to more than 3.7 million Indonesians, and contributing nearly seven percent to the country’s gross domestic product (GDP) – provided we only take non-oil and gas manufacturing into account – or around 1.25 percent of total GDP.

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On 5 May 2021, Indonesia’s Statistical Agency (Badan Pusat Statistik, BPS), released the latest gross domestic product (GDP) data of Indonesia, covering the first quarter of 2021. As expected, the economic recession persisted into Q1-2021 for Southeast Asia’s largest economy.

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While the COVID-19 crisis has seriously disrupted consumption, production, trade, and investment around the globe, this crisis apparently has only a limited impact on direct investment realization in Indonesia. After experiencing a relatively modest hiccup only in Q2-2020, investment recovered to record high levels in subsequent quarters. Does that make sense? What is going on here?

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On Wednesday (5.05.2021) Indonesia Investments released the April 2021 edition of its monthly report. In the report we track important developments - from the perspective of politics, the economy and social matters - that were influential (and impacted on the Indonesian economy) last month.

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