Jakarta, Indonesia Sentinel — Amid ongoing global economic instability, Indonesia’s halal product exports reached $41.42 billion between January and October 2024, marking a slight decline from $42.32 billion recorded in the same period in 2023.
The data was revealed by Director General of National Export Development, Mardyana Listyowati during a media briefing and talk show on Indonesia’s halal exports in Jakarta on Friday, December 20.
“During January to October 2024, we experienced a slight decrease compared to the previous period, with this year’s exports amounting to around $41.42 billion,” said Mardyana, as reported by DetikFinance.
Mardyana attributed the decline to several factors, including ongoing global economic instability. “Global demand has weakened, and purchasing power has declined. These external conditions have significantly impacted our export performance,” she explained.
She also noted that raw material supply for halal products in Indonesia has faced disruptions, further affecting production levels.
To boost halal product exports performance, the Ministry of Trade has outlined three priority programs: Domestic Market Development, Export Market Expansion, and MSME (Micro, Small, and Medium Enterprises) Empowerment.
“We expect MSMEs to explore new opportunities, embrace innovation, and adapt swiftly to market demands,” Mardyana said.
Halal Product Exports
The United States remained the largest exports destination for Indonesian halal products during the January-October 2024 period, with exports valued at $7.29 billion (17.61%). China followed with $6.17 billion (14.91%), India with $4.33 billion (10.46%), Pakistan with $2.05 billion (4.96%), and Malaysia with $1.71 billion (4.14%).
Halal food and beverages dominated Indonesia’s halal products exports, accounting for 81.16% of total shipments. Textiles and textile products contributed 16.48%, while the pharmaceutical sector made up 1.48%, and cosmetics accounted for 0.88%.
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The Ministry of Trade (Kemendag) is also pushing forward trade agreements with Canada, the Eurasian Economic Union, and Peru, alongside accelerating negotiations for the EU-CEPA (Comprehensive Economic Partnership Agreement).
Septika Tri Ardiyanti, a trade policy analyst at the Ministry of Trade’s Center for Export-Import Policy and Trade Safeguards, expressed optimism that Indonesia’s halal export performance by the end of 2024 would align with 2023 levels. In 2023, Indonesia’s halal product exports reached $50.54 billion.
“Based on projections, if exports reached $41.42 billion by October, we expect the total for 2024 to be close to last year’s figure, possibly around $50 billion,” she said.
Despite the challenges posed by global economic conditions and supply chain disruptions, Indonesia remains optimistic about the future of its halal export sector. With strategic programs, market expansion initiatives, and ongoing trade agreements, the country aims to sustain its position as a key player in the global halal market.
(Raidi/Agung)
