Only 2 Muslim Majority Countries Make It to the List of the 10 Largest Halal Product Exporters to OIC, Does Indonesia Make the Cut?

"Indonesia Enters the Top 10 Largest Halal Product Exporting Countries to OIC in 2022"

"Dream - Only two countries of the Organization of Islamic Cooperation (OIC), namely Indonesia and Turkey, are among the top 10 exporters to other Muslim countries in the world. These two countries contribute 53.7% of their total product exports to the OIC member countries. This achievement was revealed in the State of the Global Islamic Economy (SGIE) Report 2023 released by DinarStandard, an international research institution focused on the global Islamic economy."

The translation of "Negara BRIC Masuk 10 Besar" to English is "BRIC Countries Enter the Top 10".

Other countries that export their products to Muslim countries are actually dominated by BRIC members, which consist of Brazil, Russia, India, and China. These four countries have significant exports, with a share reaching 27.6 percent.

The translation of "10 Negara Eksportir Terbesar" to English is "10 Largest Exporting Countries".

Here is the translated text with the HTML tags preserved: "List of the 10 largest halal product exporting countries to OIC countries in 2022: 1. China: US$31.81 billion 2. India: US$26.37 billion 3. Brazil: US$20.85 billion 4. United States: US$20.76 billion 5. Turkey: US$16.34 billion 6. Russian Federation: US$15.21 billion 7. France: US$15.02 billion 8. Indonesia: US$13.38 billion 9. Argentina: US$12.49 billion 10. Australia: US$11.13 billion"

"On the other hand, imports of halal products from OIC member countries decreased by 2.91% from US$370 billion in 2021 to US$359 billion in 2022."

Only 2 Muslim Majority Countries Make It to the List of the 10 Largest Halal Product Exporters to OIC, Does Indonesia Make the Cut?

The translation of "Impor Farmasi Turun" to English is "Pharmaceutical Imports Down".

"Medicines have become the largest contributor to the decline in imports due to the normalization of vaccine import demand to pre-pandemic levels. "In addition, rising inflation, increasing commodity prices, and geopolitical conflicts have also hindered imports from OIC," according to the SGIE Report."

"However, it is projected that halal product imports by OIC countries will experience growth, reaching US$492.4 billion by 2027 with a CAGR of 7.6 percent."

"Food and fashion have become categories of halal products that have seen growth from 2021 to 2022. A slight increase of 1.77% in food was driven by several categories, including palm oil, cereals, and sugar. Fashion experienced a growth of 11.97%, with ready-to-wear women's clothing leading the main growth in the fashion category."

"Meanwhile, pharmaceutical imports experienced a decline of -30.92% in 2022 after a surge of 40.25% in 2021 due to the skyrocketing demand for global vaccine imports. Most OIC countries rely on imports, with a trade deficit of US$47.2 billion for halal products, which mainly come from non-OIC member countries."

The translation of "Negara OKI dengan Impor Terbesar" to English is "OIC Countries with the Largest Imports".

Here is the translated text with HTML tags preserved: "List of the 10 OIC countries with the largest halal product imports in 2022:
1. United Arab Emirates: US$32.21 billion
2. Saudi Arabia: US$31.69 billion
3. Turkey: US$31.45 billion
4. Indonesia: US$30.29 billion
5. Malaysia: US$28.99 billion
6. Egypt: US$21.05 billion
7. Iraq: US$13.68 billion
8. Bangladesh: US$13.25 billion
9. Algeria: US$12.56 billion
10. Morocco: US$11.89 billion"

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