On Monday (07/01) Indonesia Investments released the December 2018 edition of its monthly research report. The report aims to inform the reader of the key political, economic and social developments that occurred in Indonesia in the month of December 2018 and also touches upon key international developments that impacted on the Indonesian economy.

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Indonesia is in a great position to become the world’s leading nation in terms of Islamic fashion. Why? Well, with a population of around 265 million people (with nearly 90 percent adhering to Islam) Indonesia has a (potentially) huge customer base. Secondly, prosperity in Southeast Asia’s largest economy is rising as evidenced by growing per capita income and the expanding middle class. As more and more Indonesians escape poverty and rise in the ranks of the middle class, they have less need to focus solely on basic needs and have (more) money to spend on non-basic needs, such as fashion.

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Ahead of the Islamic Ramadan and Idul Fitri celebrations, consumption tends to increase in Indonesia. One of the products that is searched for by Indonesian consumers (those who adhere to Islam) is Muslim fashion such as clothes and the veil. In fact, the Indonesian government wants the nation to become Asia's center for Muslim fashion by the year 2018 and the world's Muslim fashion leader by 2020. Muslim clothes are also envisaged to become a key export product. Currently, Indonesia's Muslim fashion exports are still rather insignificant.

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