Essay on International Trade Between India And Brics Nations

916 Words Dec 16th, 2015 4 Pages
Mean and standard deviation of export during the period 2001 to 2014 is 16.32 and 10.64 respectively. Mean and standard deviation of import is 37.07 and 27.20. In both the cases, trade between India and BRICS nation is very fluctuated and irregular. Coefficient of variation of export and import shows that the fluctuation is around 0.65(or 65%) and 0.73(or 73%) during the period. Mean and standard deviation of the trade balance is 20.75 and 16.85 respectively, and indicates 81% of variation as coefficient of variation.
From the above description it can be concluded that in the entire period of trade, India remains in trade deficits, but export and import are increases manifold from 2001 to 2014. In 2011, import has increased sharply as compared to export which leads to high trade deficit. Trends of international trade between India and BRICS are discussed in the next section.
Fig1 shows Trend in international trade between India and BRICS nations during a period 2001-2014 shows that there is an upward trend with a slight growth till 2009. According to the trade database, there was incremental in the trade of manufacturing goods, after 2010 import rate shoot up exponentially and coefficient of growth is around 24 which mean in economic terms that commodities reaches diversification and it is highest in 2011 as compared to other years. Figure Source: ITC calculations based on UN COMTRADE statistics

also shows the export trend between India and BRICS nations and…

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