Halal Export Grew 64% In 2022, Hits RM44.17 Billion In 10 Months This Year

Replying to a question posed during Parliament on why Malaysia's halal export is so small compared to the global market which is valued at RM13.86 trillion, the Ministry of Trade and Investment noted that the local the halal industry grew 64% in 2022 to RM59.5 billion as compared to 2021.

These export products it said included food items and drinks, ingredients and cosmetic products as for 2023 the 10 months export value has already reached RM44.17 billion.

The Ministry through Halal Development Corporation Berhad and Malaysian Foreign Trade Development Corporation (MATRADE) has always been promoting Malaysian products to foreign countries including halal products using event platforms and business campaigns. Among them MIHAS recorded product sales Halal which reached 3 billion ringgit which is 24% higher than target. The world's largest halal exhibition has matched 469 companies local with 231 international buyers from 44 countries.

Halal Industry Development Council chaired by the Deputy Prime Minister I is aimed at reducing bureaucracy in the process obtain Malaysian halal certification and initiate synergy measures with the involvement of MITI's main agency, Halal Development Corporation, JAKIM, MATRADE, SIRIM, Malaysian Standards Department and Local government. This also aims to drive development efforts halal industry through the Halal Industry Master Plan 2030 taking into account the active participation of Micro, Small and Medium Enterprises including Bumiputera entrepreneurs and intensify commercialisation R&D products and halal innovation.

The second strategic thrust of the Halal Industry Master Plan will be opening new market for Malaysian halal products at the international level which outlined 3 initiatives that can help improve global market that is, improving export cooperation with countries target; promoting the Malaysian Halal Brand; and strengthen strategic cooperation with multinational companies.