Malaysian Halal Exports Hit RM44.17 Billion by October 2023

Malaysia’s burgeoning halal export market has shown impressive growth, with a remarkable reach of RM44.17 billion as of October this year. This data, provided by Deputy Investment, Trade and Industry Minister Liew Chin Tong, reflects a significant surge in the sector, with a 64% increase in export value in 2022, amounting to RM59.46 billion compared to the previous year. The scope of these exports spans a diverse range of products, including food and beverages, ingredients, and cosmetic products, marking Malaysia as a key player in the global halal market.

The Ministry of Investment, Trade and Industry (Miti), in collaboration with the Halal Development Corporation Bhd (HDC) and the Malaysian External Trade Development Corporation (Matrade), plays a pivotal role in promoting Malaysian halal products on the international stage. These efforts are facilitated through various platforms and business campaigns, notably the Malaysia International Halal Showcase (Mihas). The 19th edition of Mihas, the world’s largest halal exhibition, was a resounding success, recording halal product sales of RM3 billion, exceeding the target by 24%. This event also facilitated valuable connections, pairing 469 local companies with 231 international buyers from 44 different countries.

The government’s commitment to the halal industry extends beyond promotion. The Halal Industry Development Council is actively working to streamline the process for obtaining Malaysian halal certification. This involves creating synergies between MITI and key agencies like HDC, Department of Islamic Development Malaysia (Jakim), Matrade, Sirim Bhd, Department of Standards Malaysia, and local governments. This initiative is part of a broader strategy to enhance the halal industry’s development, as outlined in the Halal Industry Master Plan 2030 (HIMP 2030). HIMP 2030 focuses on inclusive participation from micro, small, and medium enterprises (MSMEs), including Bumiputera businesses, and emphasizes the commercialization of research, development products, and halal innovations.

Senator Datuk Mohd Hatta Md Ramli raised a question regarding the government’s efforts to elevate the country’s halal industry export value, which stood at RM59.46 billion in 2022 against a global backdrop of around RM13.86 trillion. In response, Liew highlighted HIMP’s second strategic thrust, which aims to unlock new international market opportunities for halal products. This strategy encompasses three core initiatives: enhancing export cooperation with target countries, promoting the halal Malaysia brand, and strengthening strategic cooperation with multinational companies.

Malaysia’s strategic approach towards expanding its halal export market is multi-faceted, encompassing government-led initiatives, industry collaborations, and global market expansion. These efforts not only solidify Malaysia’s position as a leading halal product exporter but also open up new avenues for economic growth and international trade in the halal sector.”