Malaysia’s Halal Exports Expected to Increase by 15% in 2023, Reaching RM59 Billion
Halal Development Corporation Bhd (HDC) anticipates a significant rise in Malaysia’s exports of halal products this year, projecting an increase of up to 15% based on the country’s robust total trade performance of approximately RM3 trillion in 2022. Hairol Ariffein Sahari, the Chief Executive Officer of HDC, revealed that Malaysia’s halal exports in 2022 reached RM59 billion, a notable 63% surge compared to the RM30.3 billion achieved in 2021. This remarkable growth can be attributed to several factors, including increased investments in halal industrial areas, with a cumulative investment of RM16.4 billion recorded by December last year.
“We expect that more than RM600 million of investments will flow into the 14 halal industrial parks across the country this year,” Hairol Ariffein stated during the HDC-Mydin Business Matching Session Programme held in Kota Bharu on Monday (May 8), in conjunction with the Halal Malaysia Tour event. Over 30 companies participated in the program, and the list of companies entering Mydin hypermarkets will be announced on May 18, as per a separate statement.
Highlighting the regional demand for halal products, Hairol Ariffein revealed that nearly 70% of halal exports were directed to Southeast Asian and Asia-Pacific countries. China emerged as the leading market, followed by the United States, South Korea, Japan, and Indonesia.
The CEO further explained that the demand for halal products from the Asia-Pacific region alone is expected to reach RM2.8 trillion this year, a significant portion towards achieving the targeted RM5 trillion by 2030.”This dispels the common misconception that the halal market is primarily concentrated in the Middle East due to the larger Muslim population in that region. It signifies the growing prominence of Malaysian halal products and their appeal in non-Muslim majority countries, owing to their added value, cleanliness, and authenticity,” he stated.
Hairol Ariffein highlighted that food and beverage products, along with ingredients used in food production, account for almost 80% of halal products exported. Additionally, non-food items such as pharmaceuticals and cosmetics also contribute to the export volume. With the continuous growth of Malaysia’s halal industry, the future looks promising as the country solidifies its position as a leading global player in the halal market.
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