HDC sees Malaysia’s halal exports rising up to 15% in 2023 - MIDA | Malaysian Investment Development Authority
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HDC sees Malaysia’s halal exports rising up to 15% in 2023

HDC sees Malaysia’s halal exports rising up to 15% in 2023

08 May 2023

Malaysia’s exports of halal products are expected to rise by up to 15% this year based on the country’s total trade performance of about RM3 trillion last year, said Halal Development Corporation Bhd (HDC).

Chief executive officer Hairol Ariffein Sahari said Malaysia’s halal exports reached RM59 billion in 2022, which was 63% higher than 2021’s achievement of RM30.3 billion.

“This is supported by various aspects such as the increasing amount of investments into the halal industrial areas, with the total accumulated investment up to December last year amounting to RM16.4 billion.

“We expect that more than RM600 million of investments will flow into the 14 halal industrial parks across the country this year,” he said to reporters during the HDC-Mydin Business Matching Session Programme, in conjunction with its Halal Malaysia Tour event, here on Monday (May 8).

More than 30 companies participated in the programme and the names of the companies to enter Mydin hypermarkets will be announced on May 18, according to a separate statement.

Hairol Ariffein noted that almost 70% of halal exports were to Southeast Asian and Asia-Pacific countries, with the highest demand coming from China, followed by the US, South Korea, Japan and Indonesia.

He said the demand for halal products from the Asia-Pacific countries alone reached RM2.8 trillion this year, while more than half of the RM5 trillion targeted can be achieved by 2030.

“This would be an interesting fact because many believe that the halal market is more prominent in the Middle East due to the larger Muslim population in that region.

“This also proves that halal products have gained a place and are a choice for non-Muslim majority countries due to the added value, cleanliness, and authenticity of Malaysian halal products,” he said.

Hairol Ariffein added that almost 80% of halal products exported are food and beverage products, as well as ingredients used in food production, and non-food products such as pharmaceuticals and cosmetics.

Source: Bernama