COMCEC Trade Outlook 2019
23
3. INTRA-OIC MERCHANDISE TRADE
Although the intra-OIC trade (average of intra-OIC exports
and intra-OIC imports) remained weak since 2014, it
slowly started to move up and reached to 528 billion USD
in 2016, 623 billion USD in 2017 and then 673 billion USD
in 2018. It should be noted however that intra-OIC trade is
still 69 billion USD below its peak levels achieved in 2013.
At the 13th Islamic Summit held in April 2016, in
Istanbul/Turkey, the OIC 2025: Programme of Action was adopted. According to the
Programme, it was aimed to achieve 25 per cent of intra-OIC trade share in the total OIC trade
by 2025.
In 2018, intra-OIC exports accounted for 17 percent of total OIC exports while intra OIC imports
accounted for 18.8 percent of total OIC imports.
Figure 24: Evolution of the Intra-OIC Trade
Source: IMF Direction of Trade Statistics
Among the leading countries in intra-OIC trade in 2018, UAE ranked first and followed by
Turkey, Saudi Arabia, Indonesia and Malaysia. Top ten countries accounted for the 76.3 per cent
of the intra-OIC trade.
Figure 25: Major Players in Intra-OIC Trade in 2018
Source: IMF Direction of Trade Statistics
“Share of intra-OIC
trade in total OIC trade
peaked at 19.0 per cent
in 2017”
16
16
17
17
18
18
19
19
0
50
100
150
200
250
300
350
400
450
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Billion $
Intra-OIC Merchandise Exports (Left Axis) Intra-OIC Merchandise Imports (Left Axis)
Intra-OIC Trade Volume/Total Trade Volume (%)
0 20 40 60 80 100 120
UAE
Saudi Arabia
Turkey
Indonesia
Malaysia
Oman
Pakistan
Iran
Egypt
Kuwait
Billion Dollars