making cooperation work comcec strategy diversification of total oic imports is higher source: itc...
TRANSCRIPT
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Trade Working Group 8th Meeting
October 6, 2016
Ankara, Turkey
Making Cooperation Work
For Building an Interdependent Islamic World
COMCEC
Trade OUTLOOK
2016
COMCEC STRATEGY
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OUTLINE
• Trade Between the OIC Member States and the
World
• Intra-OIC Trade
• Trade Facilitation in the OIC Member States
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
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TRADE Between the OIC and the WORLD
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
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Total OIC exports fell by 25 per cent in 2015
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: : IMF Direction of Trade Statistics
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
The total OIC exports in volume terms increased
slightly
Source: IMF Direction of Trade Statistics
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Main Factors Accounting for the Sharp Drop in
OIC Exports
• Sluggish pace of world demand growth
• Collapse in oil prices
• Falling prices for other primary commodities
• US dollars appretiation
• Ongoing political instability in the Middle East
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
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World trade growth remained subdued after the global
crisis
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: WTO Database
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Emerging Economies’ demand for imports stagnated in
2015
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: WTO
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Commodity Prices Have Been Declining since 2012
Source: IMF
(2005=100)
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The price of oil fell sharply from $98.9 barrel in
2014 to $52.4 barrel in 2015
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: IMF Commodity Price Statistics
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Contribution to Per cent Change in OIC Exports
(in percentage points)
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: ITC Trademap
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of OIC countries in global exports have
been declining since 2012
Source: IMF Direction of Trade Statistics
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Top performers as a whole accounts for 75.7
per cent of total OIC exports
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: IMF Direction of Trade Statistics
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
High country concentration in extra-OIC exports
Source: ITCtrademap
(Per cent)
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Dominance of mineral fuels and oils in total OIC exports
Source: ITC
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of Petroleum in Total Exports, 2015
Source: UNCTADSTAT
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of Commodities in Total Exports, 2015
Source: UN Comtrade (*) Includes SITC Rev 3 sectors 26, 65 and 84
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of Food in Total Exports, 2015
Source: UNCTADSTAT
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: UNCTADSTAT
Manufactured products has a considerable share in
exports in some member states
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Source: UNCTADSTAT
Malaysia, Turkey, UAE and Indonesia are the largest
manufactured goods exporters of OIC
Note: Countries are ranked according to their share in total OIC manufactured goods exports
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
TOTAL OIC IMPORTS
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Total OIC imports originated mainly from
developed countries
Source: UNCTADSTAT
(Per cent
(2015)
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Product diversification of total OIC imports is higher
Source: ITC Trademap
OIC Imports, 2015
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
INTRA-OIC TRADE
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of intra-OIC trade peaked at 20 per cent in 2015
Source:IMF Direction of Trade Statistics
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Top performers in intra OIC trade in 2015
Source:IMF DOTS
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Evolution of Intra-OIC exports by top ten sectors
Source: ITC Trademap
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
20 per cent intra-OIC trade target was surpassed
by 30 Member States in 2015
Source: IMF Direction of Trade Statistics
Member States Having the Lowest
Intra-OIC Trade Share (%)
Member States Having the Highest
Intra-OIC Trade Share (%)
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
TRADE FACILITATION
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Reducing trade costs in the OIC member
states is important to enhance both intra and
extra trade
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Border compliance costs for exports goes up to
$1375
Source: World Bank
Note: Countries are ranked according to the Trading Across Borders scores
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Border compliance times vary immensely across
members
Source: World Bank
Note: Countries are ranked according to the Trading Across Borders scores
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Trade Working Group Meeting
Thank You
October 6, 2016
Ankara, Turkey
Making Cooperation Work
For Building an Interdependent Islamic World COMCEC STRATEGY