Malaysia ranks first on Thomson Reuters’ Global Islamic Economy Indicator1, particularly in the Halal Food, Islamic Finance and Halal Travel indicators. The importance of Muslim consumers to Malaysia’s external trade is underscored by the size of national halal export values growing from RM23.85bil in 2011 to RM39.39bil in 2015 (Figure 1), making up 4.5% of total export value at the national level.
Globally, Muslim expenditure on food and beverage (F&B) is estimated at US$1,128bil in 2014, growing by 4.3% from US$1,081bil in 2013 and potentially rising to US$1,585bil in 2020. Muslim expenditure makes up 16.7% of global expenditure on F&B in 2014.
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