Organisation of Islamic Cooperation Member Countries See USD 63 Billion Halal Products Trade Deficit: Report  

The Organisation of Islamic Cooperation (OIC) member states recorded halal exports equalling USD 275 billion and imports totalling USD 338 billion in 2021, experiencing a trade deficit of USD 63 billion for halal economy products, covering food, fashion, pharmaceuticals and cosmetics, as per the 2022 Annual OIC Halal Economy Report commissioned by the Islamic Centre for Development of Trade (ICDT) and produced by DinarStandard.

Why it Matters?

Efforts have been made for the facilitation of trade and investments across OIC countries for nearly four decades by the ICDT through the promotion of halal economy goods and services, forging strategic alliances between stakeholders in member states, disseminating data on intra-OIC supply and demand, and encoura...