Deputy Governor of Bank Indonesia (BI) Juda Agung said domestic consumption of halal products and services is estimated to grow 14.96% from around 184 billion US dollars in 2020 to 281.6 billion dollars United States in 2025. "This is from the demand side because Indonesia has a large Muslim population and the largest domestic halal market in the world," Juda said at the Indonesia Halal Markets Business Forum event which was monitored online in Jakarta, Monday. When viewed from a halal food center, Indonesia's market share has become the largest in the world, reaching 13%, so it will support this estimate. Meanwhile, he said Indonesia was in the top three in the distribution center for the halal industry along with the United Arab Emirates and Turkey. The trend of international trade between Indonesia and member countries of the Organization of Islamic Cooperation (OIC) throughout 2021 also experienced a significant recovery. In 2021, Indonesia's export performance to OIC member countries will increase by 13.7% compared to the value of exports in the same period in 2020. "The style of the international Islamic economic center has also developed for the last five years in a row," said Juda. In an effort to develop and strengthen the Islamic economic and financial ecosystem in the country, he also emphasized that he had increased efforts as a breakthrough and accelerated Islamic economic growth through the National Committee for Islamic Economics and Finance which was directly directed by President Joko Widodo. This is part of the main plan for Indonesia's Islamic economy and finance 2019-2024 which has various main strategic pillars.
Wednesday, 16 March 2022 04:44
BI: Consumption of Indonesian Halal Products will Grow to reach 281.6 Billion Dollars
