School of Law and Legal Studies

TRADE OPENNESS

PROJECT BY :- SUBMITTED TO :-UDAY SHANKAR (BBA-LLB) 5th SEMESTER

CONTENT • WHAT IS TRADE OPENNESS

• INDIAN ECONOMY

• INDIA EXPORT & IMPORT CHART

• MAKE IN INDIA

• CHINA ECONOMY

• CHINA ECONOMY STATS & GRAPH

• PAKISTAN ECONOMY STATS & GRAPH

What is trade openness ?Trade openness refers to the outward or

inward orientation of a given country's

economy. Outward orientation refers to

economies that take significant advantage of

the opportunities to trade with other

countries. Inward orientation refers to

economies that overlook taking or are unable

to take advantage of the opportunities to trade

with other countries. Some of the trade policy

decisions made by countries that empower

outward or inward orientation are trade

barriers, import-export, infrastructure,

INDIAN ECONOMY

The economy of India is the seventh-

largest economy in the world

measured by nominal GDP and

the third-largest by purchasing power

parity (PPP). The country is classified

as a newly industrialised country, one

of the G-20 major economies, a

member of BRICS and a developing

economy with an average growth rate

of approximately 7% over the last two

Exports $321.5 billion: merchandise exports$155.6 billion: services exports$477.1 billion: Total (2014)

[20]

Main export partners

European Union 16.3%(2014)[20]

United States 13.4%United Arab Emirates 10.4%China 4.2%Hong Kong 4.2%

Imports $463 billion: merchandise imports$146.9 billion: services imports$609.9 billion: Total (2014)

Main import partners

China 12.7% (2014)[20]

European Union 10.5%Saudi Arabia 7.1%United Arab Emirates 5.9%Switzerland 4.6%

Make in India is an initiative launched by the Government of India to encourage multi-national, as well as national companies to manufacture their products in India. It was launched by Prime Minister NarendraModi on 25 September 2014. India hoped to emerge, after initiation of the programme in 2015 as the top destination globally for foreign direct investment, surpassing the United States of America as well as the People's Republic of China.

In 2015, India received US$63 billion in FDI.

CHINA ECONOMY

• China's socialist market economy is the world's second

largest economy by nominal GDP, and the world's

largest economy by purchasing power parity according

to the IMF, although China's National Bureau of Statistics

rejects this claim. Until 2015 China was the

world's fastest-growing major economy, with growth

rates averaging 10% over 30 years. Due to historical and

political facts of China's developing economy, China's

public sector accounts for a bigger share of the national

economy than the burgeoning private sector.

• China is a global hub for manufacturing, and is the

largest manufacturing economy in the world as well as

the largest exporter of goods in the world.China is also

the world's fastest growing consumer market and second

largest importer of goods in the world.

Export

s

$2.28 trillion (2015)

Export

goods

Electrical and other

machinery, including

data processing

equipment, apparel,

textiles, iron and steel,

optical and medical

equipment. As well as

almost every single

category of industrial

products.

Main

export

partner

s

United States 16.9%

Hong Kong15.5%

Japan6.4%

South Korea4.3%

(2014 est.)

Imports $1.68 trillion

(2015)

Import

goods

Electrical and

other machinery,

oil and mineral

fuels, optical and

medical

equipment, metal

ores, plastics,

organic chemicals

Main

import

partners

South Korea 9.7%

Japan 8.3%

United

States 8.1%

Taiwan 7.8%

Germany 5.4%

Australia 5%

(2014 est.)

PAKISTAN ECONOMY

• The economy of Pakistan is the 25th largest in the world in terms of purchasing power parity (PPP), and 38th largest in terms of nominal gross domestic product. Pakistan has a population of over 190 million (the world's 6th-largest), giving it a nominal GDP per capita of $1,550, which ranks 141st in the world. However, Pakistan's undocumented economy is estimated to be 36% of its overall economy, which is not taken into consideration when calculating per capita income. Pakistan is a developing country and is one of the Next Eleven, the eleven countries that, along with the BRICS, have a potential to become one of the world's large economies in the 21st century.

Exports Total $30 billion (2014-15

est.), Goods $24.131

billion, Services $5.741

billion

Export

goods

Textiles ($13,653 million)

Vegetable

Products ($3,094 million)

Mineral ($1,698 million)

Leather ($1,237 million)

Food and Beverages ($956

million)

Animal Farming ($756

million)

Manufactured Items ($571

million)

Metals ($531 million)

Plastic ($505 million)

Chemical ($489 million)

Main

export

partners

United States 13.3%

China 10.9%

United Arab Emirates8.6%

Afghanistan 8.5%

Germany 5.1%

Imports $41.668 billion (2013-

14 est.)

Import goods Food $4.15 billion

Machinery $5.05 billion

Transport Vehicles

$1.66 billion

Textile $2.29 billion

Fertilizers and other

chemicals $6.86 billion

Raw metal $2.7 billion

Refined Petroleum

$9.02 billion

Crude Petroleum=$5.75

billion

Main import

partners

China 17%

United Arab

Emirates15%

Kuwait 8.8% (2012

est.)

Saudi Arabia 8.5%

Malaysia 4.8%