Home Business Morocco in the Top 20 of importing and exporting countries

Morocco in the Top 20 of importing and exporting countries

84
0
SHARE

The Organization for Islamic Cooperation (OIC) Ten-Year Plan (2005-2015) allowed intra-OIC exports to triple to $ 344.3 billion. Same for imports which rose from $ 137.1 billion to about $ 350 billion in 2015.

The Organization for Islamic Cooperation (OIC) Ten-Year Plan for 2005-2015 has borne fruit. Indeed, the share of intra-OIC trade in the total trade of the Member States increased from 15.5 to 20.33% over the period, ie a clear increase of 31.5% in ten years. The volume traded has increased by 156% since the Plan’s implementation to $ 694.23 billion in 2015, compared with $ 271.45 billion in 2005. In detail, intra-OIC exports have almost tripled in one decade. With an increase of 155.3%, they reached $ 344.3 billion. However, “between 2014 and 2015, they fell by 17.3% because of the decline in commodity prices on the international market. But also because the major exporters of the OIC are the majority exporters of these products despite the appreciation of the dollar during this period, “said the Organization in its annual report 2016-2017.

Between 2014 and 2015, several countries saw intra-OIC exports fall by at least $ 1 billion. These include Turkey (-5.9 billion), Saudi Arabia (-5 billion), Indonesia (-4.2 billion), Malaysia (-4 billion), Qatar (-3, 8 billion), Kuwait (-3.3 billion), Iran (-2.9 billion). But Algeria (-2.5 billion), Nigeria (-2.3 billion), Egypt (-1.9 billion), Azerbaijan (-1.1 billion), Côte d’Ivoire (-1.1 billion) and Kazakhstan (-1 billion). However, despite this decline, some OIC countries have shown intra-OIC export growth over the period of more than $ 100 million. This is the case for Oman (+6.2 billion), Pakistan (+2.1 billion), Bahrain (241.8 million), Guinea (+188.1 million), Morocco (+165 million) , Togo (+156.1 million), Tajikistan (+123 million) and Gabon (100.1 million).

This upward trend is explained by bilateral South-South cooperation, especially with the Gulf and African countries. Imports are no exception. In ten years they have more than tripled, from $ 137.1 billion to about $ 350 billion in 2015. However, a decrease of 17.33% was registered between 2014 and 2015 due to lower commodity prices basic. “This decline has resulted in a contraction of over $ 2 billion in major importers in OIC countries, mainly because of the decline in export revenues from petroleum products, notably.” The countries concerned are Indonesia (-21 billion of its intra-OIC imports), the United Arab Emirates (-10.6 billion), Bahrain (-7.6 billion), Iran (-7 billion) , Turkey (-6.7 billion), Iraq (-4.9 billion), Malaysia (-4.6 billion), Bangladesh (-2.9 billion) and Morocco (-2.7 billion ). Note that the Kingdom ranks 18th out of the 57 OIC countries in the ranking of intra-OIC exporters in 2015. The country exported $ 3.258 billion. It is also included in the Top 10 exporters of machinery and transport equipment. With $ 717.79 million, Morocco holds 23.21% share in intra-OIC exports. As far as imports are concerned, it is ranked 17th in terms of intra-OIC trade. In 2015, it imported for $ 5.54 billion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here