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COMCEC Trade Outlook 2019

15

2.1. Main Characteristics of Total OIC Merchandise Exports

The top performers in total OIC exports were Saudi Arabia, Malaysia, UAE, Malaysia, Indonesia,

and Turkey which together accounted for 59,1 per cent of total OIC exports in 2018.

Figure 14: OIC Exports to World (Top Exporters, 2018)

Source: IMF Direction of Trade Statistics

The OIC export markets are highly concentrated (Table 3). China is the top export destination

with 11.8 per cent of extra-OIC exports destined to China in 2018. Apart from China OIC exports

are mainly shipped to developed countries in recent years. The top

ten countries account for 53.6 per cent of extra-OIC exports. This

points to a high-country concentration in total OIC exports which

makes OIC countries vulnerable to external shocks that might

result from decreasing demand in these countries and/or falling

commodity prices.

Appendix Table A4

which provides the top three destinations for each OIC member state

reveals that the top three destinations constitute around half or above half of exports in thirty

member states. This again points to dependence on a few markets for exports and underscores

the case for policies aimed to broaden export markets.

Table 3: Major Destinations of Total Extra-OIC Exports

Countries

(Billion USD)

Share %

2016

2017

2018

2016

2017

2018

China

146,3

180,7

236,2

10,5

11,1

11,8

India

107,9

131,0

167,6

7,7

8,0

8,4

Japan

102,0

110,4

131,2

7,3

6,8

6,6

United States

97,0

111,3

124,0

7,0

6,8

6,2

Korea

69,2

82,7

101,9

5,0

5,1

5,1

Singapore

64,2

77,0

87,3

4,6

4,7

4,4

Italy

48,8

60,0

71,6

3,5

3,7

3,6

Netherlands

31,1

42,6

53,6

2,2

2,6

2,7

France

35,7

43,4

51,1

2,6

2,7

2,6

Spain

31,7

38,8

48,2

2,3

2,4

2,4

Total of Top Ten Countries

734,0

877,9

1.072,6

52,7

53,7

53,6

Total OIC Export

1.392,6

1.634,6

2.001,4

Source: IMF Direction of Trade Statistics

66

66

73

84

90

168

180

247

292

295

0

50

100

150

200

250

300

350

Kuwait

Nigeria

Iran

Qatar

Iraq

Turkey

Indonesia

Malaysia

UAE

Saudi Arabia

Billion Dollars

The OIC export

markets are highly

concentrated