COMCEC Trade Outlook 2018
11
Figure 11 below shows the OIC countries having the largest positive impact on the percentage
increase in the total OIC exports in 2017 in descending order. The increase in exports of
Indonesia, Malaysia, Saudi Arabia, United Arab Emirates and Iran accounted for 53 per cent of
the increase in total OIC exports.
Figure 11: Contributions to Total OIC Export Growth (2017)
Source: IMF Direction of Trade Statistics.
Although the share of OIC countries in world exports
peaked at 12.8 per cent in 2012, it declined between 2013-
2016. However, in 2017 OIC countries’ share of world
exports increased by 0.5 percentage points to 9.3 per cent
while OIC’s share in world imports decreased slightly by
0.2 percentage points to 9.7 per cent. As a result, the share of OIC countries in global trade
increased slightly to 9.5 per cent in 2017.
Moreover, the case of Palestine also needs to be specifically mentioned in the Trade Outlook of
the OIC region. Major hindrances from the Israeli side seriously impede the realization of
Palestine’s true trade potential especially its export potential. As a result, Palestine suffers a
huge trade deficit (71 per cent of the total trade). The Israeli closure and blockade have
significantly hampered the Palestinian exports and caused economic dependence to Israel.
Accordingly, the total volume of the merchandise export of Palestine to Israel constitutes the
81.2 percent of the total merchandise exports and 58.2 percent of the total merchandise import
of Palestine is likewise originated from Israel. Therefore, such impediments cause substantial
damages to the Palestinian trade and need to be alleviated.
0.0
0.5
1.0
1.5
2.0
2.5
Indonesia Malaysia Saudi
Arabia
UAE Iran Iraq Turkey Kazakhstan Qatar Nigeria
per cent
Contribution of Countries
“OIC countries’ share in
global trade increased
to 9.5 per cent in 2017”