How has our pattern of export changed over years?

Question

1 Answer

answered Aug 31, 2022 by Vineshk (79.1k points)
selected Sep 1, 2022 by SayantaniGhosh

Best 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.