Abstract
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.
Highlights
The world is witnessing the emergence of various economic groupings
South Africa, Bangladesh, Oman, Iran, Islamic Republic of, Sri Lanka the share in world exports is less than 1 per cent
The Indian Ocean region has a rich history of trade and cultural linkages dating back to many centuries
Summary
The world is witnessing the emergence of various economic groupings. The economies are undergoing with rapid changes and globalisation playing a major role. The real average growth rate of exports during post formation of IORA for Australia is 9.3 per cent, Bangladesh is 12.2 per cent , Comoros is 4.5 per cent, India is 12.8 per cent, Indonesia is 7.0 per cent, Iran is 2.7 per cent, Kenya is 7.4 per cent, Madagascar is 10.8 per cent, Malaysia is 6.1 per cent, Maldives is 7.3 per cent, Mauritius is 2.2 per cent, Mozambique is 19.4 per cent, Oman is 11.4 , Seychelles is 7.5 per cent, Singapore is 7.3 per cent, South Africa is 9.8 per cent, Sri Lanka is 7.4 per cent, Tanzania is 10.4 per cent, Thailand is 8.0 per cent, UAE is 12.5 per cent. Reception apparatus for television is the product that faces the strongest demand potential in World
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