Sri Lanka’s Halal-Certified Exports estimated at USD 1.7 billion for 2023

Sri Lanka’s Halal-certified product exports are estimated at USD 1.7 billion for 2023. This achievement represents a significant portion of the nation’s export economy, accounting for 61% of total food and beverage exports and 14% of the country’s overall exports.

Leading the charge is Sri Lanka’s Halal-certified Tea, valued at USD 1.29 billion in 2023. This is complemented by a growing segment of prepared and preserved fruits, nuts, and other edible plant parts, which have reached USD 191 million. Additionally, processed food and beverages, including extracts, essences, concentrates, sauces, soups, and ice creams, have contributed USD 111 million for the year.

The growth trajectory for Sri Lanka’s Halal-certifiable food and beverage exports, excluding tea, is noteworthy, with a compound annual growth rate (CAGR) of 10% between 2012 and 2023. This robust growth underscores the global demand for Sri Lankan Halal products.

Key markets for these exports include both OIC (Organization of Islamic Cooperation) and non-OIC countries. The top five OIC markets—Turkey, Iraq, United Arab Emirates, Saudi Arabia, and Azerbaijan—collectively brought in USD 501 million in 2023. On the other hand, the top five non-OIC markets—Russia, the United States, Germany, China, and the Netherlands—accounted for USD 382.74 million.

Policy makers have emphasized the critical need to boost exports to mitigate the trade deficit and improve the balance of payments. The long-term development of agriculture is seen as essential for strengthening the economy, increasing export income, enhancing food security, and reducing rural poverty, especially considering that over 30% of the population is employed in the agriculture sector.

The Halal Accreditation Council (HAC) continues to play a pivotal role in this success story. By continually updating its standards and operations, HAC enables Sri Lankan food business operators to tap into the global Halal food and beverage market, valued at USD 2 trillion.

HAC’s efforts have not gone unnoticed. The council has been awarded Gold by the National Chamber of Exporters for two consecutive years (2022-2023) for its initiatives in Halal certification, recognizing its vital service to Sri Lanka’s exporters. Furthermore, HAC received a Merit at the Sri Lanka National Quality Awards from the Sri Lanka Standards Institute, underscoring its commitment to quality and excellence.

As Sri Lanka continues to expand its Halal-certifiable exports, the nation’s agricultural sector is poised for even greater achievements, solidifying its position in the global market and contributing to economic growth and stability.