Indonesia has great potential for Muslim products and may become the largest exporter

Indonesian Vice President Ma'ruf Amin said the potential of Indonesia's Muslim product market is huge, which will make Indonesia the world's largest producer and exporter of halal products.

He added that according to the Global Islamic Economy Index, Indonesia's Islamic economy ranking has continued to rise since 2019 , ranking fourth in the world, after Malaysia, Saudi Arabia and the United Arab Emirates .

In 2019 , Indonesia 's media and entertainment sector rose 47 places to 5th place ; the pharmaceutical and cosmetics sector rose 19 places to 6th place ; the food and beverage sector rose 8 places compared to 2018 to 4th place . The above are the main factors that led to Indonesia 's rising ranking in 2019.

Speaking at the opening ceremony of the Indonesian Industrial Muslim Fair 2021 , Ma'ruf Amin said : "This development is very encouraging. The implementation of Law No. 33 of 2014 in October 2019 was the main driver of the increase in Indonesia's indicator values, especially in the food and beverage industry , the pharmaceutical industry , and the cosmetics industry . "

However, Indonesia's potential as a market for Muslim products needs to be balanced with Indonesia's export performance and the potential for products to enter the markets of Organisation of Islamic Cooperation ( OCI) countries.

According to the OECD 's " Economic Outlook 2020 " , among OECD member countries, Indonesia is the fifth largest exporter with a share of 9.3%, lower than Saudi Arabia ( 14.5% ) , Malaysia ( 13.3% ) , the United Arab Emirates ( 12.3% ) and Turkey ( 10.1% ) .

Indonesia was also the fourth largest importer, accounting for 8.4%, behind the United Arab Emirates ( 12.2% ) , Turkey ( 12.1% ) and Malaysia ( 11.8% ) .

Meanwhile, compared with the world, Indonesia’s halal product exports currently only account for about 3.8% of the world’s total halal product market.

"To increase this contribution, various efforts need to be made, one of which is to increase the visibility of products by organizing an international event to promote and sell Indonesian Muslim products," said Ma'ruf Amin .

Indonesia

Muslim