In the last 26 years, India's merchandise trade with the rest of the world has grown 26 fold from just over $29 billion in 1987-88 to $762 billion in 2013-14. In the process, there has been a radical shift in who we trade with. The UK, Japan, Russia, Belgium, France and Italy, all part of the top 10 trading partners in 1987-88 are no longer in that list and together account for just 7.5% of India's trade compared to 37.4% then. Conversely, China, Switzerland, Hong Kong, Indonesia, Iraq and Singapore now account for 21.6% of the trade now, compared to just 6.8% a quarter century ago.What is noticeable is the rise of Asian trading partners and the decline of European ones
29.10.14
Trade snippets
In the last 26 years, India's merchandise trade with the rest of the world has grown 26 fold from just over $29 billion in 1987-88 to $762 billion in 2013-14. In the process, there has been a radical shift in who we trade with. The UK, Japan, Russia, Belgium, France and Italy, all part of the top 10 trading partners in 1987-88 are no longer in that list and together account for just 7.5% of India's trade compared to 37.4% then. Conversely, China, Switzerland, Hong Kong, Indonesia, Iraq and Singapore now account for 21.6% of the trade now, compared to just 6.8% a quarter century ago.What is noticeable is the rise of Asian trading partners and the decline of European ones
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment