COMCEC Trade Outlook 2019

Source: WTO Tariff Profiles 2019 database

Note: Includes countries where data is available

Trade Openness in the OIC

One of the most common measure of openness is to evaluate the ratio of trade (the sum of value

of exports and imports of goods) to the gross domestic product (GDP). This could be interpreted

as the relative importance of trade to the economy.

The statistics by UNCTADSTAT indicates that openness ratio fell significantly in the aftermath

of the global crisis both in developing and developed countries, it recovered and increased

modestly in 2017.

The trade to GDP ratio in total OIC increased from 47 per cent in 2016 to 51 percent in 2017, it

is still below the levels of 2011 and 2012 which was 60 percent.

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Egypt

Turkey

Sudan

Morocco

Algeria

Guyana

Uganda

Suriname

Jordan

Bangladesh

Côte d'Ivoire

Benin

Burkina Faso

The Gambia

Guinea-Bissau

Niger

Senegal

Togo

Guinea

Mali

OIC Average

Lebanon

World Average

Mozambique

Pakistan

Comoros

Oman

Mauritania

Maldives

Tajikistan

Yemen

Kazakhstan

Bahrain

Afghanistan

Kyrgyz Republic

Indonesia

Malaysia

Albania

Saudi Arabia

UAE

Qatar

Kuwait

Brunei

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