UAE among top three Islamic economy countries
- Date: 16-Nov-2020
- Source: Mubasher
- Sector:Economy
- Country:uae-top-picks
UAE among top three Islamic economy countries
The UAE has been placed among the top three countries in the global Islamic economy indicator, as shown by the 2020-2021 State of the Global Islamic Economy report.
The indicator covers 81 countries in the 2020-2021 report, produced by DinarStandard, a US-based research and advisory firm, in partnership with SalaamGateway, according to a press release on Monday.
In its eighth edition, the report referred that Muslims spent $2.02 trillion on halal food, modest fashion, family-friendly travel, halal pharmaceuticals, halal cosmetics, and halal media and recreation in 2019, showing a 3.2% year-on-year (YoY) growth.
However, expenditure in 2020 is forecast to retreat by around 8% due to the negative economic impact on the coronavirus (COVID-19) outbreak.
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