Deputy Governor of Bank Indonesia (BI) Doni P. Joewono highlighted that Indonesia remains a significant global market for halal products, with the country’s import value surpassing its export value.
Speaking at the 2024 Sumatra Regional Sharia Economic Festival (FESyar) on Monday, Doni noted that countries such as India, the United States, and South Korea are leading exporters of halal products. He cited data from the State of the Global Islamic Economy (SGIE), revealing that Indonesia ranked third overall in global Sharia economic indicators. “The turnover of halal products reached US$1.4 trillion, and Indonesia ranked second in the consumption trends of halal industrial products,” said Doni in Batam.
Doni’s Urgent Call for Collaborative Efforts to Foster the Development of Sharia Economics in Indonesia
Furthermore, Doni underscored the necessity of strengthening the ecosystem for halal products within Indonesia as a crucial challenge for advancing the Sharia economy.
In a related effort to promote Sharia economics, BI Riau Islands engaged approximately 112 leading micro, small, and medium-sized enterprises (MSMEs) at FESyar, held in Batam from May 27 to June 2, 2024. On Monday, Suryono, the Head of BI Riau Islands, mentioned that 13 BI offices across the Sumatra region have been assisting these MSMEs.
The festival showcases the potential of MSMEs to contribute to the halal economy and enhance their integration into the broader Sharia economic framework. By supporting these enterprises, Indonesia aims to bolster its position in the global halal market and drive sustainable economic growth.
