China and India: Comparing Export Growth
Its always tempting to compare economic aspects of China and India, as we have done before. Exports is one area that is commonly compared; the chart below summarises briefly China and India's performance over the last decade. There are some striking observations.
Firstly, the scale indicates that India's exports are dwarfed by China's, yet both Chinese and Indian exports have increased substantially in the last decade. China's advance in exports was mainly situated in the Machinery and Electrical Equipment category, in which it has gained market share all over the world (i.e. in Australia, as we have outlined before) and which reflect the strategic evolving of its economy from the 1990s.
India, however, have not focused on equipment as China has, but instead the bulge has occurred in the 'Other' category. The bulk of this 'Other' category includes Manufactured Goods, of which Engineering Goods in 2010 constituted about 65%. Petroleum Oil Products (or POL products) constituted a significant share of about 15% of India's total exports by 2010, and was the fastest-growing Indian export over the decade. Gems and Jewelry constituted another 16.2%. For some more info on India's recent export performance, see here.
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