making cooperation work comcec strategy diversification of total oic imports is higher source: itc...
TRANSCRIPT
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
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
TRADE Between the OIC and the WORLD
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For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
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
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
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
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
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Commodity Prices Have Been Declining since 2012
Source: IMF
(2005=100)
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
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
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
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
High country concentration in extra-OIC exports
Source: ITCtrademap
(Per cent)
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Dominance of mineral fuels and oils in total OIC exports
Source: ITC
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of Petroleum in Total Exports, 2015
Source: UNCTADSTAT
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Share of Food in Total Exports, 2015
Source: UNCTADSTAT
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
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
TOTAL OIC IMPORTS
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Total OIC imports originated mainly from
developed countries
Source: UNCTADSTAT
(Per cent
(2015)
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
INTRA-OIC TRADE
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
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Top performers in intra OIC trade in 2015
Source:IMF DOTS
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
Evolution of Intra-OIC exports by top ten sectors
Source: ITC Trademap
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 (%)
For Building an Interdependent Islamic World
COMCEC STRATEGY Making Cooperation Work
TRADE FACILITATION
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
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
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
Trade Working Group Meeting
Thank You
October 6, 2016
Ankara, Turkey
Making Cooperation Work
For Building an Interdependent Islamic World COMCEC STRATEGY