The Jakarta Post
Exports of Indonesian rattan furniture slid to a “precarious” level in August as demand from the recession-ridden US and Europe, two major markets for local manufacturers, dried up further, the Indonesian Furniture Industry and Handicraft Association (Asmindo) said on Tuesday.
“Indonesian exports remain fragile because the US and Europe are still [financially] ailing. Furthermore, there’s no guarantee that they will recover in the next two years,” said Ambar Tjahyono, the chairman of Asmindo.
According to Ambar, demand had shown signs of strengthening in March when exports hit US$23.6 million, or 25 percent higher than the same month last year. The number was also 54.1 percent more than figures in January.
“Buyers from the US and Europe still possessed purchasing power in March because they were stocking up their merchandise. But this purchasing power dro...