National industry must continue to encourage its growth as a locomotive to make Indonesia a developed country.
Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us atThe following article was translated using both Microsoft Azure Open AI and Google Translation AI. The original article can be found inThis income deficit could hit around 69 million citizens, 21.
Unfortunately, Indonesia has experienced early deindustrialization in the past 15 years. This condition is indicated by the decreasing proportion of manufacturing industries in the Gross Domestic Product , from 21.45 percent in 2012 to 18.34 percent in 2022. However, in the third quarter of 2023, this proportion improved to 18.74 percent due to the contribution of mining-based and CPO manufacturing industries.
A decline in production capacity from its normal capacity has also been experienced by other plastic raw material companies that are members of the Olefin, Aromatic, and Plastic Industry Association of Indonesia . This situation is very concerning as profit margins are narrowing, approaching the break-even point, or even potentially leading to a shutdown point, a condition where the factory must be closed.
If there is no improvement regarding this matter, the prospects of the upstream petrochemical industry will become even more bleak.Taking the example of the petrochemical industry, currently the demand for petrochemical products cannot be met by domestic producers. The total import of petrochemical products in 2023 is 8.5 million tons, valued at 9.5 billion US dollars. The government targets to substitute these imports with domestic products up to 35 percent in 2025-2030 .
Industry will not be a specific topic in the presidential and vice-presidential debate in the 2024 Elections.
Indonesia Berita Terbaru, Indonesia Berita utama
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