Factors Affecting the Export of Halal Products of Thailand to Southeast Asian Countries
Keywords:
Exports, Southeast Asian Countries, HalalAbstract
Objective The objective of this paper is to study factors affecting the value of Thai halal exports to Southeast Asian countries. The factors considered are gross domestic product, population, foreign direct investment, exchange rate, distance, common border, landlock, and member of The Organization of Islamic Cooperation.
Methodology We use annual panel data covering the period from 2009 to 2018 where the analysis is conducted via a Random Effects Model by Generalized Least Squares (GLS).
Research findings Results revealed that the factors positively affect Thai Halal exports are gross domestic product, having a common border with Thailand, and being a landlocked country. Factors that negatively affect Thai Halal exports, on the other hand, are distance between Thailand and the country, and being a member of The Organization of Islamic Cooperation.
Applications Thailand should promote and expand markets for Thai Halal exports to relatively high-income countries, the CLMV countries that share a common border with Thailand and enhance the credibility of Halal products to The Organization of Islamic Cooperation member countries in Southeast Asian.
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