How To Solve The Problem Of Nigeria Textile Enterprises Going Bankrupt?

AI Sha Abu abal, Minister of state for industry, trade and investment of Nigeria, pointed out that the economic recession has led to 145 textile enterprises in Nepal.

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It is the more than 2 sector after the government and employs only a small number of employees.

It is estimated that the number of direct employment in the textile industry will rise from 50 thousand in 2015 to 100 thousand in 2017, while the number of indirect employment will rise from 650 thousand to 1 million 300 thousand.

Nim has implemented the "state" since January 20, 2015.

A special policy was established and a policy implementation Committee was set up, which planned to invest 255 billion from 2015 to 2020 (about US $800 million) to support the development of the textile industry.

The chairman of the committee, Ms. A Vobokun, said that the main problems faced by Nissan were inadequate funds, smuggled products, power shortages and insufficient cotton seed production.

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According to official reports in Indonesia, Indonesia's textile industry mainly produces yarn.

As the market demand continues to boom, Indonesian textile enterprises continue to expand, and the number of textile mills has increased from 251 in 2012 to 285 in 2015.

In 2013, Indonesia had 10 million 967 thousand spindles, 179385 spinning cups, and 2 million 600 thousand tons of fiber consumption, of which cotton accounted for 26%, chemical fiber 73%, and other fibers 1.1%.

30% of Indonesia's yarn output is used for export, while China, Japan and South Korea are the main export markets, accounting for 74%, 12% and 5% of the total export volume respectively.

Indonesia's yarn production relies heavily on imports.

In 2015, Indonesia imported mainly Brazil cotton, accounting for 44% of the total imports, followed by the United States cotton (21%), Australia cotton (13%), India cotton (8.2%).

In the past two years, with the continued depreciation of the rupiah against the US dollar and slowing global economic growth, Indonesia's textile and clothing exports decreased by 3.23% over the same period 2015/16.

In 2015 1-11, Indonesia's cotton exports dropped to 138 thousand tons from 188 thousand tons in the same period in 2014. Japan, Belgium, Italy, Indonesia and the United States are the main export destinations for Indonesia's cotton cloth.

Affected by the continued weak demand for textiles, Indonesia's cotton consumption dropped to 575 thousand tons in 2015/16 and cotton imports dropped to 544 thousand tons.

Indonesia's cotton imports will increase slightly to 599 thousand tons in the year 2016/17, with little increase. The main reasons are as follows:

1, the global economy continues to slump, crude oil prices continue to decline, chemical fiber prices are also continuing to decline.

The price of polyester and cotton fell 2% to 0.85 US dollars per kilogram, while the price of medium grade cotton was 1.7 US dollars / kg.

Because Indonesia's cotton production is very low, spinning relies heavily on imports. The textile factory has to ensure 2 months' cotton stock usage. In contrast, the cost of using cotton in Indonesia is higher than that of chemical fiber. Therefore, the output of pure cotton combed yarn in Indonesia decreased by 10% in 2015/16 and the output of pure cotton combed yarn decreased by 23%.

2, Indonesia's currency continues to slack, domestic consumption is sluggish, the global economic recession is restricting Indonesia's textile exports, and Indonesian textiles are facing oversupply.

3, a large number of smuggled yarns, fabrics, garments and other textiles have sprung up in the domestic textile market in Indonesia, which has an impact on domestic consumption.

4, a large number of Indonesian textile and garment enterprises are closed.