REPUBLIKA.CO.ID, JAKARTA —- Director of Sharia Ecosystem Infrastructure of the National Committee for Sharia Economy and Finance (KNEKS) Sutan Emir Hidayat said that halal businesses in Indonesia now have great potential to become a key pillar in driving national economic growth. Based on KNEKS data, the contribution of halal sector to Indonesia's GDP is estimated at 47.27 percent or about IDR 10,600 trillion in 2024.
This figure is expected to increase to 48.34 percent or IDR 11,700 trillion by 2025. “The halal business ecosystem includes strategic sectors such as halal food and beverages, Muslim-friendly tourism, and modest fashion. With the projected contribution of the halal food-beverage sector reaching 6.50 percent of GDP by 2025, this sector is the main backbone,” Emir said in the Focus Group Discussion (FGD) of Republika on the theme of Sharia Financial Outlook 2025: Realizing Sustainable Industries at the Republika Office.
Emir also added that the sharia financial market share in Indonesia is targeted to increase from 11.59 percent in 2024 to 12.33 percent in 2025. This suggests that sharia finance is essential to support the financing of state development.
“With the strengthening of this sector, we can achieve the national economic growth target of 5.6 percent by 2025,” he explained.
One of the government's current focus is to develop halal commodities that have great potential to increase Indonesia's exports and competitiveness in the global market. The economic value of certified halal commodities is expected to reach IDR 2,123.4 trillion in 2024, and will rise to IDR 2,247.1 trillion by 2025.
KNEKS noted there are nine flagship kosher commodities, such as fish, palm oil, wood, rubber, and shrimp, which are priorities. “For example, the fish sector is expected to reach IDR 405 trillion by 2024. This potential must be put to good use in order for Indonesian halal products to become more competitive in the global market,” Emir said.
The government is also targeting an increase in the contribution of halal exports from 17.15 percent to GDP in 2024 to 18.15 percent in 2025. Together with the government and BPJPH, KNEKS continues to strive to ensure that Indonesian halal products are not only certified, but also have global competitiveness.” This is important to strengthen Indonesia's position in the world halal supply chain,” he said.
Despite its great potential, the Emir acknowledged Indonesia's sharia economy still faces a number of challenges. One of them is the low contribution of exports of halal products, which is only 3.8 percent of the total imports of halal products of the OIC countries.
“The potential of our market is huge, but it has not yet been exploited to the fullest. There is a great opportunity to improve competitiveness in the global market,” Emir said
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In addition, the new national sharia finance market share reached 11.5 percent, with the majority of contributions from sukuk, indicating the need for diversification and innovation in the management of sharia finance. Management of sharia social funds, such as zakat, infak, and alms, is also far from optimal, with the official total collected only reaching Rp40 trillion
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Emir also stressed the importance of accelerating halal certification for SMEs, which is currently delayed until 2026, whereas it was previously targeted to be completed by 2024. According to him, strengthening the halal ecosystem and improving cooperation between sectors can be the solution to overcome this problem
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