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Indonesian Natural Medicine Industry Thrives, Bank Indonesia Reports Positive Growth
Jakarta, INTI - Bank Indonesia (BI) has released data indicating optimistic trends in the chemical, pharmaceutical, and traditional medicine industries. According to the Prompt Manufacturing Index-BI (PMI-BI), the sector's volume surpassed the 50 percent threshold, with PMI-BI reaching 52.50 in the fourth quarter of 2023, signifying expansion.
"Global natural medicine market in 2023 reached USD200.95 billion and is expected to continue growing. Therefore, the development of the natural medicine industry needs to be continuously enhanced to compete globally," stated Agus.
Furthermore, these prospects are bolstered by the utilization of natural medicine, particularly jamu, which has become a cultural staple in Indonesia. On December 6, 2023, jamu was officially recognized as the 13th Intangible Cultural Heritage of Indonesia listed by UNESCO.
Currently, Indonesia boasts various components of the natural medicine industry, including Small Traditional Medicine Businesses (UKOT), Micro Traditional Medicine Businesses (UMOT), Natural Extract Industries (IEBA), and Traditional Medicine Industries (IOT). These sectors have produced 17,000 jamu medicines, 79 standardized herbal medicines, and 22 types of phytopharmaceuticals.
"The Ministry of Industry continues to promote and provide guidance to small industries to elevate their status, thus enhancing the production of natural medicines, especially phytopharmaceuticals, which have the potential to substitute imported raw materials toward national pharmaceutical self-sufficiency," he emphasized.
With continuous support and development efforts, Indonesia aims to solidify its position in the global natural medicine market, fostering economic growth and sustainability.***Hans
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