COMCEC Trade Outlook 2019
12
Figure 11 below shows the OIC countries having the largest positive impact on the percentage
increase in the total OIC exports in 2018 in descending order. The increase in exports of
Indonesia, Malaysia, Saudi Arabia, UAE and Iraq accounted for 60 per cent of the increase in total
OIC exports.
Figure 11: Contributions (Positive) to Change in Total OIC Exports
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-
2018. However, in 2017 OIC countries’ share of world
exports increased by 0.5 percentage and 1.0 per cent in
2018 while OIC’s share in world imports decreased slightly
by 0.18 and per centage points to 0.53 per cent during 2017 and 2018 respectively. As a result,
the share of OIC countries in global trade increased slightly to 9.7 per cent in 2018.
Moreover, the case of Palestine also needs to be specifically mentioned in the Trade Outlook of
the OIC region.
Palestine is the 185th largest export economy in the world. In 2017, Palestine exported 94.8
million USD and imported 935 million USD, resulting in a negative trade balance of 840 million
USD. In 2017 the GDP of Palestine was 14.5 Billion USD and its GDP per capita was 4.890 USD.
Palestine exported 94.8 million USD and imported 935 million USD, resulting in a negative trade
balance of 840 million USD.11
The top exports of Palestine ar (14.2 Million USD) (13.4 million
USD) 8.69 million USD) 8.5 million USD) an
(7.52 million USD), using the 1992 revision of the HS (Harmonized System)
classification. Its top imports ar (163 million USD) (40.1 million USD)
(39.8 million USD) (29.6 million USD) an (27 million
USD).
1
0
1
2
3
4
5
6
per cent
Contribution of Countries
“OIC countries’ share in
global trade increased
to 9.5 per cent in 2017”