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While Indian and Chinese merchants docked their ships on the shores of the Arabian Peninsula, it was the Arab merchants who moved goods on their boats or convoys of camels, using a vast network of land and sea routes to re-export merchandise across the ancient world.
The remarkable achievement of environmental measures in this period is consistent with the notable increase in the share of manufactured exports to merchandise exports and the share of high-technology exports to manufactured exports.
Although net crude oil exports and the share of fuel exports to merchandise exports have been declining during the period, trade surpluses of more than 30 million TOE of crude oil were maintained.
Meanwhile, the share of manufactured exports to merchandise exports dropped from 52.1 to 44.7 %, and the share of high-technology exports to manufactured exports also shrank from 14.8 to 13.5%%.
The WDI variables for each country are real GDP per capita growth (annual %); real GDP per capita in 1990; gross capital formation (annual % growth); exports of goods and services (annual % growth); and agricultural raw materials exports, food exports, fuel exports, ore and mineral exports and manufactured exports (each as % of merchandise exports).
Exports of merchandise grew by 17.6% in the year to February, while imports rose by 16.8%, though both fell from the previous month.China recorded a small trade surplus of $139m in March and a larger one of $6.5 billion in January.
The share of the manufacturing sector to GDP slightly expanded from 26.0 to 27.1 % and that of exports to merchandise increased from 45.0 to 57.1%%.
In our third set of models, where we test for the effect of specific types of exports on growth, we run separate analyses for four commodity groups (agricultural raw materials exports, ore and minerals exports, food exports, and fuel exports) and for manufactured exports, all measured as a percentage of merchandise exports for each country.
America also exports a lot of stuff (as the $1.575 trillion merchandise export total demonstrates).
Merchandise export revenue fell by 46% year on year in January and 49% in February.
Nevertheless, Mr Nath went ahead and set a very ambitious merchandise export target of US$200bn for the current fiscal year.To help achieve that objective, the supplement announced a number of measures to increase exports.
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