What is the expected contribution of the Halal industry to Malaysia's GDP?

According to the CEO of the Halal Industry Development Corporation, Malaysia's Halal industry is growing steadily at about 5% per year and is expected to account for 5.8% of the country's GDP by 2020. The Halal food and services sectors are expected to drive this growth (they contributed less than 2% to GDP at the time, leaving broad room for growth). The industry estimates the entire Halal industry to be worth 1.5 billion ringgit.

What room for growth do Halal products have in global trade?

According to industry insiders, at the time Halal products accounted for less than 10% of global trade, with great potential to be tapped in markets in China, India and other non-Muslim countries. The growth of the global Muslim population will also have a positive impact on demand for Halal products - it is a market that cannot be ignored, with rigid demand that has always existed and is still rising.

Halal Industry to Account for 5.8% of Malaysia's GDP in 2020

The Halal industry will account for 5.8% of Malaysia's GDP in 2020

Relevant data show that Malaysia's Halal industry is currently growing steadily at 5% per year, and is expected to account for 5.8% of the country's GDP by 2020. Datuk Seri Jamil Bidin, CEO of the Halal Industry Development Corporation, believes that the Halal food and services sectors are expected to drive the growth of this industry; they currently contribute less than 2% to GDP, leaving very broad room for growth.

'According to industry estimates, the entire Halal industry is worth 1.5 billion ringgit (about US$490 million). We are confident of achieving the 5.8% target. Over the past four years, domestic demand for Halal products in Malaysia has been rising steadily,' Datuk Seri Jamil Bidin said.

He said that currently Halal products account for less than 10% of global trade, and industry insiders generally believe there is great potential to be tapped in markets in China, India and other non-Muslim countries.

Jumaatun Azmi, founder and managing director of KasehDia Sdn Bhd, believes that the growth of the global Muslim population will also have a positive impact on demand for Halal products. 'This is absolutely a market you cannot ignore. Rigid demand has always existed and is still rising,' she said.

FAQ

What is the expected contribution of the Halal industry to Malaysia's GDP?: According to the CEO of the Halal Industry Development Corporation, Malaysia's Halal industry is growing steadily at about 5% per year and is expected to account for 5.8% of the country's GDP by 2020. The Halal food and services sectors are expected to drive this growth (they contributed less than 2% to GDP at the time, leaving broad room for growth). The industry estimates the entire Halal industry to be worth 1.5 billion ringgit.
What room for growth do Halal products have in global trade?: According to industry insiders, at the time Halal products accounted for less than 10% of global trade, with great potential to be tapped in markets in China, India and other non-Muslim countries. The growth of the global Muslim population will also have a positive impact on demand for Halal products - it is a market that cannot be ignored, with rigid demand that has always existed and is still rising.

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