Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE3 Marks
Question
How has our pattern of export changed over years?
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Answer
Pattern $($direction$)$ of export:
In the same pattern in $1960-61,$ India’s exports to England constituted $26.8\%$ of the total merchandise exports which reduced to as low as $4\%$ after $2007-08.$
During the same period, India’s exports to $USA$ declined from $16\%$ of the total merchandise exports to $12.7\%$ and that to Russia from $4.5\%$ to $0.6\%.$
Contrary of this, our merchandise exports to $OPEC$ constituted $4.1\%$ of our total merchandise exports in $1960-61$ which gradually increased over years. After $2007-08$ it increased to over $16\%$ and during the same period merchandise exports to developing countries increased from $14.8\%$ to $42.6\%$ of the total merchandise exports. ‘ ‘
From our total merchandise exports, those to Asian countries were countries were almost $50\%$ in $2014-15.$
Thus, India has made several successful attempts to diversify her trade with different countries that too in different directions.
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