Indonesian Modest Fashion Exports Reach $632.76 Million

Paris, VIVA – Bank Indonesia (BI) recorded that the export value of modest fashion commodities during the period of January to July 2024 reached USD 632.76 million, reflecting an annual increase of 3.38 percent.

In this context, Bank Indonesia has renewed its collaboration with the Ministry of Cooperatives and SMEs, the Indonesia Fashion Chamber (IFC), and the Embassy of the Republic of Indonesia in Paris, France, at the second Indonesia International Modest Fashion Festival (IN2MF) held in Paris, France, on September 7.

"Modest fashion isn't just a trend but a global movement that reflects elegance, dignity, and cultural pride in line with Indonesian values," said Bank Indonesia Deputy Governor Juda Agung in his statement on Wednesday (Sept 11).

Agung stated that the contribution of the modest fashion industry to supporting the advancement of the Islamic economy needs to be strengthened in the global market, in line with Indonesia's achievement of ranking third in the modest fashion industry according to the State of the Global Islamic Economy 2023 report.

"Going forward, Bank Indonesia will continue to support IN2MF in expanding into global markets and strengthening the promotion of traditional Indonesian textiles through the development of internationally standardized innovation and creativity," Agung explained.

Meanwhile, Indonesia's Ambassador to France, Mohamad Oemar, expressed his commitment to supporting the development of the Islamic economy through the promotion of Indonesia's modest fashion industry at the international level, especially in Paris.

This is in line with the goal of making Indonesia the global hub of modest fashion and increasing Indonesia's exports.

History has recorded France as the fashion capital of the world, reflected in the French fashion industry representing 30 percent of the global market share, with a total turnover of 154 billion euros and generating 1 million jobs in France.

This presents an opportunity for Indonesia to penetrate this market, particularly in promoting the export of modest fashion based on traditional Indonesian textiles.

On the same occasion, a breakthrough to promote Indonesian modest fashion products globally was made through the signing of a cooperation agreement between the IKRA Council and Printemps Paris.

This cooperation will strengthen the exposure of IKRA's curated products sold at the Printemps department store in Paris.