Rupiah Exchange Rate and Export Performance of Indonesian Textile and Manufacturing Products
DOI:
https://doi.org/10.66931/jmb-566Keywords:
Rupiah Exchange Rate, Export Performance, Textile Industry, Manufacturing Industry, Export CompetitivenessAbstract
The Rupiah exchange rate against the US dollar is one of the economic factors associated with Indonesia's export performance. In theory, Rupiah depreciation may improve the price competitiveness of Indonesian products in international markets. However, the relationship between exchange rate movements and export performance is not straightforward, particularly in the textile and manufacturing industries, which are also influenced by imported input costs, productivity, external demand, and global trade conditions. This study aims to describe the development of the Rupiah/USD exchange rate and the export performance of Indonesian textile and manufacturing products during the 2021–2025 period and to examine the relationship between exchange rate movements and export developments from an economic perspective. The study employs a descriptive qualitative approach based on secondary data obtained from official statistical institutions and supported by relevant scientific literature. The data are analyzed descriptively by comparing the development of the Rupiah/USD exchange rate with textile and manufacturing export performance and interpreting the findings using exchange rate theory, international trade theory, and export competitiveness theory. The results show that the Rupiah experienced a depreciation trend, with the average exchange rate increasing from Rp14,296 per US dollar in 2021 to Rp16,477 in 2025. Meanwhile, apparel export volume fluctuated, increasing in 2022, declining in 2023, and increasing again in 2024 and 2025. Manufacturing export value also showed a fluctuating pattern, increasing in 2021 and 2022, declining in 2023, and recovering in 2024. These findings indicate that Rupiah depreciation may create opportunities for export competitiveness, but export performance cannot be explained by exchange rate movements alone. Imported input costs, productivity, production capacity, external demand, and international market conditions also play an important role in determining export performance.
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Copyright (c) 2026 Sigit Hermanto, Susi Sukawati, Shila Nabilah, M Fikri Annasrullah, Vinsensa Gerosa Dhema (Author)
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