MANAMA: Food and Agriculture is the second largest OIC sector cluster. Sector exports were $118 billion in 2013 representing 8% of global exports and grew 42% CAGR from 2009 to 2013, according to a report.
Thompson Reuters, the world’s leading provider of intelligent information for businesses and professionals, in partnership with Dinar Standard, an Islamic markets research and advisory firm, presented the key findings of Islamic Growth Markets Investment Report 2015 during the Global Islamic Investment Gateway conference in Bahrain.
“Domestic demand value from food sector across OIC is the highest among all sector clusters and estimated at $974 billion representing 16% of global food consumption. Primary opportunity areas identified: Retail (Supermarkets/ Hypermarkets); Edible oil production; Halal Meat and offal; Food waste/ animal fodder; Prepared cereals, diary; Sugar and sugar confectionary; Cocoa and cocoa products,” the report added.
“Travel & Transportation is the third largest OIC sector cluster (tied with Electronics). Sector exports were $192 billion in 2013 and the second highest compared to other ten Clusters representing 6% of global exports. Primary opportunity areas identified: Auto parts manufacturing; Airline services/ ecosystem; Family-friendly hotels/resorts (Muslim-friendly); Hotel development in top growth markets.”