The handicraft and home decor industries in Indonesia, specializing in wood and natural stone, continue to demonstrate robust potential amidst global economic and geopolitical challenges. In the first quarter of 2024, impressive export growth was recorded, as per data from the Central Statistics Agency (BPS) analyzed by the Indonesian Export Financing Institution (LPEI) economists. Export values surged to USD 35.76 million, marking an 8.15% year-on-year increase from January to March 2024, largely driven by rising prices. This cumulative export increase reflects heightened exports to key markets including Japan (up USD 6.55 million), South Korea (up USD 1.62 million yoy), Germany (up USD 1.15 million yoy), the Netherlands (up USD 670.32 thousand yoy), and Papua New Guinea (up USD 522.09 thousand yoy). Indonesia Eximbank (LPEI) continues to enhance the capacity of Indonesian SMEs to compete globally through export training programs like the Coaching Program for New Exporters (CPNE). One success story is CV Maharani, specializing in handicrafts and home decor from wood and natural stone in Bali. LPEI has supported CV Maharani since 2021, facilitating exports to the USA, UK, Japan, the Netherlands, Germany, and Russia.
Furthermore, LPEI's business matching initiatives with Ottawa Trade Attachés, Indonesian Trade Promotion Center (ITPC) Vancouver, and Indonesian diaspora successfully penetrated the Canadian export market for Maharani Craft in April 2024. Irene Setiawati, owner of CV Maharani, credits LPEI’s support for expanding their export horizons, stating, "LPEI's services and facilities empower export-oriented SMEs like us to conduct global exports." CV Maharani exemplifies Indonesia's expertise in wood processing and diverse export products, ranging from small items like dining placemats to larger, intricate kitchen utensils made from basic metals. LPEI's Executive Director of Business Development, Maqin U. Norhadi, emphasized that besides financing, LPEI supports export-oriented SMEs through consultancy programs, enhancing product quality and competitiveness in global markets. LPEI is committed to bolstering Indonesia's local products’ competitiveness globally, fostering economic growth. Initiatives like the upcoming marketplace aim to provide a comprehensive ecosystem for export education, information services, incubation, capacity building, and business matchmaking. By leveraging accurate data and deep market insights, Indonesian SMEs can formulate more effective export strategies, thereby driving economic contributions and enabling them to compete boldly on the global stage.
