Infographic: State of the Global Islamic Economy 2023/24
The State of the Global Islamic Economy (SGIE) Report estimates that Muslim spending in 2022 totalled $2.29 trillion across economic sectors influenced by Islamic values, including food, pharmaceuticals, cosmetics, fashion, travel, and media and recreation sectors.
This figure represents a 9.5% year-on-year growth from $2 trillion in 2021. Moreover, Islamic finance assets are estimated to have reached $3.96 trillion in 2021/2022, up 17% from 2020/2021.
The 2023 edition of the SGIE Report is being presented amidst a global crisis around the Palestinian-Israeli conflict which has significant socio-economic relevance to core Islamic markets.
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