TEMPO.CO, Jakarta - State of the Global Islamic Economy Report (SGIER) edition 2023/2024 reveals that global halal product consumption is estimated to reach US$ 2.4 trillion in 2024. Indonesia's contribution in the global halal value chain, particularly in the food and beverage sector and modest fashion.

Minister of Industry Agus Gumiwang Kartasasmita stated that the halal food and beverage sector and modest fashion recorded growth of 5.87 percent (yoy) and 3.81 percent (yoy), respectively, this year.

"This shows that in the future, national economic growth can be dominated by the sharia economy through the development of the halal industry," said Agus Gumiwang in a written statement on Wednesday, November 27, 2024.

With a global halal product consumption figure of US$ 2.4 trillion, Agus Gumiwang stated that the sharia economy and halal industry have great potential. One of the Ministry of Industry's policies is to expand the promotion of halal products at prestigious international events.

Indonesia participates in the Halal Expo Turkey, one of the world's largest halal exhibitions. In 2023, Indonesia successfully recorded a commitment to trade transactions amounting to Rp 10.4 billion. In 2024, the Indonesian Pavilion once again showcased products from various sectors.

At the Halal Expo Turkey 2024, Indonesia presented the Indonesian Pavilion, featuring 12 leading industry players as co-exhibitors: PT Bintan Inti Industrial Estate, PT Binabusana Internusa, PT Cinquer Agro Nusantara, PT Formosa Ingredient Factory, Tbk, PT Jayatama Selaras, PT Kapal Api, PT Lestari Jaya Bangsa, PT Priskila Prima Makmur, CV Realsa Natural, PT RM Deltasari Indah, PT Surabaya Indah Permai, and PT Venamon.

Agus Gumiwang previously stated that the sharia economy's growth through the halal industry must dominate the national economy. This is because the sharia economy has the largest contribution to the national economy, namely 0.79 percent of the total economic growth of 5.05 percent.

"The halal industry is also showing good and positive performance day by day," said Agus Gumiwang in his speech at the Indonesia Halal Industry Awards 2024 event on Friday, September 27, 2024 at the Indonesia Convention Center (ICE) BSD Tangerang, Banten.

According to Agus Gumiwang, this performance is evidenced by the growth of the halal value chain (HVC) sector, which grew by 1.94 percent (yoy), with the food and beverage sector and modest fashion growing by 5.87 percent and 3.81 percent, respectively.