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MENA countries have enjoyed a total trade (imports and exports) to GDP ratio of about 70%, which is
high by international standards. This indicator does, however, mask the particular factor endowments in
the region. A high level of exports of oil together with the import of a major part of all other needs
indicates limited capacity for local production and self-sufficiency, and therefore, high levels of economic
vulnerability.
Figure 3.3: Merchandise Exports of MENA Countries
Source: OECD, Word Bank, WDI
In this respect, the economies of the MENA countries do not all reflect the same upward or downward
trends in growth, competiveness, infrastructure developments, international trade and exports, and SME
activity. There are important differences between oil exporting and oil importing countries and between
those which have introduced major structural changes and those which have not. While overall growth in
the region is expected to be near the 5% mark, the economic growth of MENA’s oil exporting countries is
expected to be strong as it bounces back from 3.4% in 2010 to 5.4% in 2012. Oil importing countries, on
the other hand are expected to grow at about half that rate.
Recognition of the structural diversity of MENA countries leads us to identify common or similar
characteristics and overriding factors affecting particular groups of countries. We distinguish three intra-
MENA group of economies – the oil importing nations, the oil exporting economies and those which have
bucked the trend in the region.