Global Halal Economy Expected To More Than Double By 2030, Reaching $5 Trillion

The global halal economy, valued at $2.3 trillion in 2020, is projected to grow to $5 trillion by 2030, signalling significant expansion opportunities for countries involved in this sector.

Azernews reports that this insight was shared by Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, during the presentation of a new textbook titled "Halal Economy."

Gasimli emphasised that the halal economy is poised to become a major export driver, bringing valuable foreign currency into participating countries: "The publication of this book responds to growing demand and highlights the critical importance of ensuring halal food products. However, halal economy today extends well beyond food production. It now encompasses a broad range of sectors and industries."

He further noted that the book will serve as a key resource for strengthening Azerbaijan's economic ties within the Muslim world.

The textbook, jointly developed by the Center for Analysis of Economic Reforms and Communications and the Azerbaijan Institute of Theology, spans eight chapters covering essential topics such as Shariah-compliant requirements in halal economics, ethical management principles, halal trade standards, halal tourism, global halal trade trends and challenges, and the potential impact of halal economy on entrepreneurship development in Azerbaijan.

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