Most people understand that wealthy Middle East countries generate most of their money from oil exports. Today, many nations couldn’t function for long without inflows of imported Middle Eastern oil.
This analysis focuses on the total value of exports and imports for each of 20 Middle Eastern economies. Those amounts are then divided by the country’s Gross Domestic Product (GDP) to calculate a percentage that shows the share of a nation’s production that global trade generates.
Based on estimated 2007 statistics from the CIA World Factbook, overall global trade from all Middle Eastern countries was about US$1.8 billion in 2007. That figure represents 43% of that geographic region’s total GDP which amounted to some $4.1 billion. North America’s global trade percentage is 27.1% and South America’s is 21%.
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