The Indonesian Rattan Furniture and Craft Association (AMKRI) has set a target for the 2016 Indonesia International Furniture Expo (Ifex), held in Jakarta on April 11-14, 2016 with a theme of “The Essence of Infinite Innovation”, to attract 10,000 visitors with a total transaction value of US$350 million.
“We also set a target to achieve a follow up transaction value of US$1 billion,” AMKRI chairman Rudi Halim told us on Saturday, March 12, 2016.
Last year, the international furniture expo managed to attract 8,595 visitors with an on-the-spot transaction value of US$270 million and a follow up transaction value of US$700 million.
The furniture industry has an important role for the national economic growth, since the transaction value of this sector is quite significant. In 2015, Indonesia recorded US$1.902 billion in furniture exports, increasing by 1.3 percent when compared to the previous year.
Rudi explained that the Indonesia has a huge opportunity to expand its furniture and handicraft market.
“The global furniture market is currently valued at US$141 billion. Indonesia’s contribution to the global market value stands at US$2 billion, while Vietnam’s stands at US$6.8 billion,” Rudi added.
The Industry Ministry recorded an increase in the value of wooden and rattan furniture exports. In 2012, the value stood at US$1.4 billion and increased to US$1.8 billion in 2013. The figure continued to rise to US$2.2 billion in 2014. The positive trend reflects optimism that the furniture export value over the next five years will worth US$5 billion.