An error occured. Details Hide
You have unsaved pages. Restore Cancel

The Organization of the Islamic Cooperation (OIC) will hold an extraordinary summit in Istanbul, Turkey, on Wednesday, December 13, 2017, to discuss the repercussions of the announcement of US President Donald Trump last week recognizing Jerusalem as the capital of Israel. Last Monday, the OIC appealed to its 57 member states to cut ties with any country that recognizes Israel’s annexation of Jerusalem.

 

If the members of the OIC revise bilateral trade relations with the US, which OIC members have the most flexibility to injure the US in terms of total trade volume or specific commodities?

  • According to the United Nations, total US goods imports from OIC member states totaled $128 billion in 2016. While this made up about six percent of total US imports—roughly equal to total US import from the likes of Japan and Germany—it is nearly a 40 percent decline since 2011 thanks in large part to the price of commodities the US imports from OIC members.
  • The primary US imports from OIC members were mineral fuels and oils, electrical machinery and equipment, articles of apparel and clothing accessories, and nuclear reactors, together accounting for more than two-thirds of all merchandise imports. The largest exporters to the US among the OIC member states were Malaysia, Indonesia, Saudi Arabia, Turkey, and Iraq, which represented 71 percent of US imports from the OIC in 2016. 
  • The major exports from the US to OIC were aircraft, electrical equipment, nuclear reactors, vehicles, and optical equipment. The largest importers from the US among OIC member states were the UAE, Saudi Arabia, Malaysia, Turkey, and Indonesia, accounting for 66 percent of all US exports to the OIC.

 

Imports to the US | Exports from the US

Download our latest US ECONOMY cheat sheet Download

Download our latest US ECONOMY cheat sheet

The United States being the biggest economy in the world significantly influences the global economic situation. The US economy is comprehensively covered by data and statistics from multiple government and private sources. We selected the most significant and up-to-date ones and presented them in this cheat sheet.

Related Data Insights

Household Debt in the US

Household debt balance in the United States reached a new all-time high of $13.2 trillion in the fourth quarter of 2017 as per the latest report from the Center for Microeconomic Data of New York Fed. Currently, it constitutes 67 percent of the US GDP and is higher than GDP of the world's second-largest economy of China. Being huge in absolute terms, however, US household debt is not the highest in the world if compared to the size of the economy. Such countries as Norway, Denmark, Australia, Canada, the United Kingdom, Portugal, and Sweden have higher levels of household debt as a share of GDP than the US. Household indebtedness in the US...

Top Vehicle Manufacturers in the US Market, 1961-2016

Over the last three years, car sales in the US market have set new all-time records and included a collection of manufacturers that extends well beyond the American classics. In 2015, vehicle sales in the US reached nearly 17.5 million units, a growth of 5.7 percent from 2014 and 25,000 more vehicles than the record setting sales in 2005. The year 2000 marked a turning point in the US auto industry: it was the last year that General Motors and Ford Motor Company combined made up at least 50 percent of the US market share. GM’s share of the US market has decreased almost 3 times since its peak of 50.7 percent in 1962, falling to 17 percent in...

US Solar Energy Profile

An extended crisis in the US coal industry and ecological concerns surrounding energy generation are important contributors to the phenomenal growth in solar power generation capacity in the US during the last decade. Net solar electricity generation has increased by 7,135 percent, from about 508,000 MWh in 2006 to 36.8 million MWh in 2016.The average growth rate for solar power generation capacity was about 73 percent per year between 2010 and 2016, a significantly higher rate than other electricity generation technologies. The rate has slowed, however, during the last three years, increasing by 46 percent from January 2016 to January 2017,...

US Inflation Forecast 2017, 2018 and up to 2060, Data and Charts

Federal Open Market Committee (FOMC) in its latest meeting on September 20, forecasted that PCE inflation rate in the United States will average at 1.6 percent in 2017 then increase to 1.9 percent in 2018 and stabilize at around 2 percent over 2019-2020. FOMC - monetary policymaking body of the U.S. Federal Reserve System seeking to foster price stability - publishes inflation projections from its all twelve members four times a year in connection with their meetings in March, June, September, and December. The next projection will be made on the next two-days meeting on December 12-13. PCE inflation refers to the percent change of Personal...