Cosmetic industry clocked significant growth of 9.39 percent in 2020

Jakarta Indonesia’s chemical, pharmaceutical, and traditional medicine industry, which includes the cosmetic industry, grew 9.39 percent in 2020, Director General of Small, Medium, and Various Industries of the Industry Ministry Gati Wibawaningsih stated.

“The sector has contributed 1.92 percent to the gross domestic product (GDP),” Wibawaningsih remarked when contacted here on Wednesday.

Amid the pressure from the COVID-19 pandemic, the industry contributed significantly to the country’s foreign exchange, with exports reached US$317 million, or Rp4.44 trillion, in the first semester of 2020, or up 15.2 percent as compared to the corresponding period of 2019.

The government has encouraged the chemical, pharmaceutical, and traditional medicine industry, also comprising the cosmetic industry, to utilize local raw materials, with Indonesia’s comparative advantages over other natural-based cosmetic and traditional medicine producers, such as China, Malaysia, and Thailand.

“The potential of medicinal plants found in various regions of Indonesia is huge. Some 30 thousand of 40 thousand medicinal plant species in the world grow in Indonesia,” she stated.

 

 

 

 

Source: Antara News

 

Related posts

Leave a Comment