Mean And Standard Deviation Of Export Analysis

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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
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2 shows balance of trade between India and BRICS nations since 2001 to 2014. Export and import are both positive values and balance of trade is calculated by deducting import from the export. Fig 2 shows that import value is higher than the export value throughout the time period. Therefore the balance of trade is negative, which is also known as a trade deficit. Balance of trade shows consistently negative with slight deviation till 2010, after 2010 balance of trade rises exponentially in negative direction which means the import value rises exponentially also. In 2013, it reduces but next year it is again at the …show more content…
The index of trade concentration is widely used to measure the degree of trade diversification over various products. Its value lies between 0 and 1 and a value closer to zero indicates less product concentration i.e. higher product diversification. From the table2 it can be seen that the values of HHI export and import both ranges closer to zero, which indicates less product concentration and high product diversification. While in the year 2005 to 2009 HHI of export indicates that there is slightly higher product concentration as compared to other years. This situation arises because there was an increase in processed petroleum oils, refined copper and copper alloys, cotton yarns and its products, medicament mixtures, diamonds (not mounted or set) and other modified goods. Basically, in these years, India’s exports increase in engineering goods, chemical products, Gems and Jewelleries. The mean HHI value of export from India to BRICS for the whole period 2001- 2014 is 0.08 this reflects that India’s export to BRICS nation has been highly diversified and India’s export value is equally distributed among the commodities. While on the other side mean HHI value of import from India to BRICS for the whole period 2001- 2014 is 0.04. This reflects that India’s import from BRICS has been less concentrated and highly diversified. But from the standard deviation (0.02)

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