Open AccessAnalysis of Real GDP, Imports and Exports of Indian Ocean RIM Association Member Nations
Author(s) -
Manbir Singh,
Jasdeep Kaur Dhami
Publication year - 2021
Publication title -
psychology
Language(s) - English
Resource type - Journals
ISSN - 0033-3077
DOI - 10.17762/pae.v58i2.1057
Subject(s) - indian ocean , geography , sri lanka , economy , international trade , socioeconomics , south asia , development economics , business , economics , ancient history , oceanography , history , geology
The Indian Ocean woven together by transmission of trade, commands the control of majority of the world’s cargo ships, one third of the worlds cargo traffic and two thirds of total world’s oil shipments. The main aim of this paper is to analyse Real GDP, Imports and Exports of Indian Ocean RIM Association Member Nations. Time period of the study is from 1980 to 2019. Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) contributes 11.7 per cent share in world exports, in case of member nations highest share is of Singapore 2.1 per cent followed by India and UAE 1.7 per cent, Australia 1.5 per cent, Thailand and Malaysia 1.3 per cent. Indonesia, South Africa, Bangladesh, Oman, Iran, Islamic Republic of, Sri Lanka the share in world exports is less than 1 per cent.