COMCEC Trade Outlook 2016

Figure 27: Intra OIC Imports in 2015

Source: IMF Direction of Trade Statistics

The commodity composition of intra-OIC imports according to SITC Rev 3 classification by

regions could be observed from Table 7. In Arab and Asia regions, manufactured goods has the

highest share while mineral fuels, lubricants and related material has the highest share in intra-

imports of Africa amounting to 40.4 per cent.

Table 7: Commodity Composition of Intra-OIC Imports by Sub-Regions (% Shares, 2015)

Source: UNCTADSTAT

The third Extra-Ordinary Islamic Summit Conference

held in 2005 in Makkah, Saudi Arabia set the target of 20

percent intra-OIC trade by 2015. The intra-OIC trade

target level was met by 20 percent intra-OIC trade in

2015. However, there is a great diversity among the

Member States with regards to achieving the 20 percent

target individually.

In 2015, the share of intra-OIC trade of 30 members

stayed above 20 percent in their total trade. However, in some of the Member States total trade

far surpassed the 20 percent. For example the share of intra-OIC trade was 88.8 percent in Syria,

followed by Afghanistan (60.4 percent) and Somalia (56.1 percent). On the other hand, the share

Food

and live

animals

Beverages

and

tobacco

Crude

materials

, inedible,

except

fuels

Mineral

fuels,

lubricants

and

materials

Animal

and

vegetabl

e oils,

fats and

waxes

Chemicals

and

products,

n.e.s.

Other

Manufactured

goods

Machinery

and

transport

equipment

Miscellaneous

manufactured

articles

Commodities

and

transactions,

n.e.s.

TOTAL

Arab

11.4

1.1

2.6

7.1

0.8

8.9

16.5

36.5

11.5

3.6 49.6

Asia

6.8

0.7

4.9

10.8

1.3

12.1

16.8

34.8

6.9

4.8 44.1

Africa

12.7

1.7

15.3

1.3

11.2

16.1

31.6

7.8

0.3

6.3

TOTAL

9.5

1.0

3.6

9.3

1.1

10.5

16.6

35.5

9.2

3.9 100.0

“20 percent intra-OIC

trade target was

surpassed by 30 Member

States in 2015 ”