DRAFT Improving the SMEs Access to Trade Finance
in the OIC Member States
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States in aggregate, rather than attempting to address such issues on a country-by-country
basis.
Figure 20: Islamic Trade Finance
Source: Insights: Islamic Trade Finance, MIIFC, 2013
This approach will ensure identification of the major issues, while avoiding the significant
overlap and repetition that would arise in an individual country consideration of the state of
trade finance.
Member States’ Trade increased from US$ 3.2 trillion in 2010 to US$ 3.9 trillion in 2011,
an increase by 22%. Trade of the OIC Member States accounted for 10.8% of world
trade in 2011. The Actors of the world trade of the OIC Member States in 2011 were:
Saudi Arabia (US $458 billion), the UAE (US $455 billion), Malaysia (US $415 billion),
Indonesia (US $381 billion), Turkey (US $376 billion), Iran (US $222 billion), Nigeria
(US $166 billion), Qatar (US $131 billion), Kuwait (US $110 billion) and Algeria (US
$105 billion). These ten countries accounted for 72.7% of world trade of the OIC
Member States in 2011. […]
The net intra-OIC trade ((intra-OIC exports + intra-OIC imports)/2) in 2011 reached a
value of US$ 340.8 billion against US$ 269.5 billion in 2010, an increase by 26.5%.
Despite the effects of the global economic crisis, the share of intra-OIC trade in the total
trade of Member States increased from 17.03% in 2010 to 17.80% in 2011, i.e. an
increase by 4.5%.
Source: Annual Report on Trade Between the OIC Member States, Islamic Centre for
Development of Trade, 2013.
Relatedly, access to objective data and metrics is limited at best across the global trade finance
landscape, and even more so in certain markets and economies that do not typically track such
data points. Despite this, the high level themes and challenges – as well as the opportunities
are perhaps surprisingly repetitive and consistent, particularly where the needs and gaps