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COMCEC Trade Outlook 2019
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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
”