The airline industry provides transportation services for passengers as well as cargo through scheduled air routes. The aviation industry derives its revenues from regular ticket fees and freight charges. Other major components of the aviation sector include:
* Air traffic control
* Helicopter and private charter services
* Airport management
* Express delivery service
History of the Airline Industry
The pioneers of the airline industry, the Wright Brothers invented the first airplane in 1903. The first modern airliner, Boeing 247, was launched in 1933. It traveled at 155 miles per hour and had a capacity of ten passengers. Boeing 747 was launched by Pan Am in 1969. This highly sophisticated aircraft had four engines and a seating capacity of 450. The airline industry initially fell under the category of a public utility service, with government agencies establishing the air routes and prices. However, with the Airline Deregulation Act of 1978, the industry became market driven.
Demand and Supply Drivers of the Airline Industry
The demand drivers of the airline industry include:
* Ticket prices
* Passenger income levels
* Access to and suitability of other modes of transportation
* Frequency of services
* Safety
* Random factors such as terror threat
The supply drivers of the aviation industry are:
* Behavior of competition
* Government regulation
* Cost of resources (fuel, labor, maintenance, technology)
Airline Industry: Major Players
The European airline giants dominate the aviation industry. British Airways reported annual revenues of GBP8,593 million in 2008. Lufthansa reported annual revenues of Euro22.4 billion in 2007. Qantas, Australia’s largest airline, reported annual revenues of A$12.6 billion for 2007. The other major passenger airlines include Cathay Pacific, the Emirates, US Airways, Japan Airlines, Air France-KLM and Southwest Airlines. Cathay Pacific won the 2009 Airline of the Year title in the famous World Airline Awards, replacing Singapore Airlines as the 'world's best airline.' Among the freight carriers, FedEx is the world’s largest, with total revenues of US$ 37.953 billion in 2008.
Some of the major airports across the world include:
* London’s Heathrow Airport
* Los Angeles International Airport
* Frankfurt International Airport
* Tokyo International Airport
The global aviation sector generated revenues of $430 billion in 2007, with over 2,076 million passengers traveling by air. According to the US Bureau of Labor Statistics, the airline industry provided employment to around 487,000 people in 2006 in America alone.
Thursday 13 January 2011
Airline Industry
The Airline Industry encompasses a single aircraft conveying cargo articles and mail to different places to the numerous aircrafts carrying passengers to the different parts of the world. Services of the Airline industry can be segregated as domestic, regional, within the continent or travel between continents. A thorough analysis of the Airline industry will essentially comprise all of the above. Records show that the demand for airline travel has been increasing. 1950 through 1960 manifested a trend when the yearly growth was consistent at approximately 15%. Airline industry showed yearly growth ranging between 5% to 6% consistently in the 80s and the 90s. However, rate of growth cannot be expected to remain same throughout due to several factors. Deregulation being one of the reasons. Deregulation in the Airline industry led to flexibility in the prices of the airline tickets. Consequently, the airfares nosedived at times escalating the airway traffic.
In some countries the Airline industry is regulated by the Government. In countries, where the Airline industry is privatized, many norms and regulations as laid forward by the Government has to be complied with. These norms and regulations have been framed keeping in mind the safety, political as well as economic aspects. The Airline industry trend shows that during the period 2000 through 2002, 6% profit was enjoyed by the Airline industry, as much as 10% to 13% was gained by companies in the catering sector, manufacturers of aircraft gained by 16%, airports gained by 10% etc.,. The Airline ticket costs are inclusive of the taxes, different kinds of fees and surcharges wherever applicable.To know more about the Airline industry one may browse through the following links:
* Airline Industry Analysis
* Airline Industry Trends
* Airline Industry Growth
* Airline Industry Mergers
* Air Cargo Industry
* World Airline Industry
* U.S Airline Industry
* Airline Industry in India
In some countries the Airline industry is regulated by the Government. In countries, where the Airline industry is privatized, many norms and regulations as laid forward by the Government has to be complied with. These norms and regulations have been framed keeping in mind the safety, political as well as economic aspects. The Airline industry trend shows that during the period 2000 through 2002, 6% profit was enjoyed by the Airline industry, as much as 10% to 13% was gained by companies in the catering sector, manufacturers of aircraft gained by 16%, airports gained by 10% etc.,. The Airline ticket costs are inclusive of the taxes, different kinds of fees and surcharges wherever applicable.To know more about the Airline industry one may browse through the following links:
* Airline Industry Analysis
* Airline Industry Trends
* Airline Industry Growth
* Airline Industry Mergers
* Air Cargo Industry
* World Airline Industry
* U.S Airline Industry
* Airline Industry in India
Business
A business is an organization which is legally recognized to offer goods and services to the consumers and other entities like governments, social sector organizations, and other corporate entities.
Businesses are one of the building blocks of capitalist economies. Most businesses are privately owned, but they can be listed on stock markets or owned by governments and other organizations. The main purpose of a business is to earn profit and add to the wealth of their owners or shareholders. By providing useful goods or services and assuming some risks, businesses seek to develop a positive cash flow.
Types of Business at a Glance
Business types are normally defined by means of ownership, as outlined below:
Sole proprietorship: A business owned by one person. This is the simplest and most prevalent form of business worldwide, but also the least economically productive. Most ‘mom and pop’ shops and freelancers tend to fall into this category. The owner has total and unlimited liability for all debts incurred, but may pay less tax and be subject to less stringent regulations.
Partnership: A business owned by two or more partners. Each partner has total and unlimited liability for all debts of the business in a general partnership, but there are some levels of protection in limited partnerships and limited liability partnerships. Traditionally, professional services organizations like legal and consultancy practices have tended to form as partnerships.
Corporation: A limited liability business that has a separate legal entity than its owners. A corporation is designed to generate profit, has more than one owner, and has a board of directors who are responsible for hiring (and firing) its management team. Public corporations will list some or all of their shares on stock markets, and will then be required to make public their financial performance.
Cooperative: Like a corporate, a cooperative business or a ‘co-op’ is a limited liability entity that is for-profit. However it is owned by members, normally in large numbers, and not shareholders. Members have voting rights on all major business decisions. Co-ops are normally classified as either consumer cooperatives or worker cooperatives.
Categories of Business
Businesses can be categorized by the nature of services offered, as follows:
Service businesses: These businesses specialize in providing intangible products and services and earn a profit by charging a certain amount for the services that they offer. Business organizations including lawyers, accountants, consulting firms, designers, architects, entertainers and other professionals come under the purview of service businesses.
Financial businesses: These businesses include banks and other corporate entities that deal with capital management and investment.
Manufacturers: These businesses specialize in production of goods from raw materials. Manufacturers earn profits by selling final products in the domestic and/or international markets.
Retailers and distributors: These business organizations serve as mediators between manufacturers and consumers. The majority of consumer-oriented outlets, e-commerce sites and catalogue companies come under this category.
Real estate businesses: These businesses generate profits by trading buildings, land, and all other forms of residential and commercial property.
Agricultural and mining businesses: These businesses are involved in the production and distribution of raw materials for the manufacturing companies.
Transportation businesses: These businesses generate profits by transporting people, commodities, parts, and finished goods.
Utilities: These businesses are involved in providing public services like sewage treatment, communications, and power.
Information businesses: These businesses deal with production, distribution, and marketing of software and hardware products. Outsourcing businesses also fall under the domain of information business.
Businesses are one of the building blocks of capitalist economies. Most businesses are privately owned, but they can be listed on stock markets or owned by governments and other organizations. The main purpose of a business is to earn profit and add to the wealth of their owners or shareholders. By providing useful goods or services and assuming some risks, businesses seek to develop a positive cash flow.
Types of Business at a Glance
Business types are normally defined by means of ownership, as outlined below:
Sole proprietorship: A business owned by one person. This is the simplest and most prevalent form of business worldwide, but also the least economically productive. Most ‘mom and pop’ shops and freelancers tend to fall into this category. The owner has total and unlimited liability for all debts incurred, but may pay less tax and be subject to less stringent regulations.
Partnership: A business owned by two or more partners. Each partner has total and unlimited liability for all debts of the business in a general partnership, but there are some levels of protection in limited partnerships and limited liability partnerships. Traditionally, professional services organizations like legal and consultancy practices have tended to form as partnerships.
Corporation: A limited liability business that has a separate legal entity than its owners. A corporation is designed to generate profit, has more than one owner, and has a board of directors who are responsible for hiring (and firing) its management team. Public corporations will list some or all of their shares on stock markets, and will then be required to make public their financial performance.
Cooperative: Like a corporate, a cooperative business or a ‘co-op’ is a limited liability entity that is for-profit. However it is owned by members, normally in large numbers, and not shareholders. Members have voting rights on all major business decisions. Co-ops are normally classified as either consumer cooperatives or worker cooperatives.
Categories of Business
Businesses can be categorized by the nature of services offered, as follows:
Service businesses: These businesses specialize in providing intangible products and services and earn a profit by charging a certain amount for the services that they offer. Business organizations including lawyers, accountants, consulting firms, designers, architects, entertainers and other professionals come under the purview of service businesses.
Financial businesses: These businesses include banks and other corporate entities that deal with capital management and investment.
Manufacturers: These businesses specialize in production of goods from raw materials. Manufacturers earn profits by selling final products in the domestic and/or international markets.
Retailers and distributors: These business organizations serve as mediators between manufacturers and consumers. The majority of consumer-oriented outlets, e-commerce sites and catalogue companies come under this category.
Real estate businesses: These businesses generate profits by trading buildings, land, and all other forms of residential and commercial property.
Agricultural and mining businesses: These businesses are involved in the production and distribution of raw materials for the manufacturing companies.
Transportation businesses: These businesses generate profits by transporting people, commodities, parts, and finished goods.
Utilities: These businesses are involved in providing public services like sewage treatment, communications, and power.
Information businesses: These businesses deal with production, distribution, and marketing of software and hardware products. Outsourcing businesses also fall under the domain of information business.
Biotechnology Industry
The biotechnology industry is fully research based and this intensively research based sector yielded revenues worth $50.7 billion in the year 2005. $19.8 billion was spent for research and development by the United States Biotechnology industry.
Biotechnology industry and the economy:
Various activities related to life sciences as well as the biotechnology industry recruited 1.2 million individuals in the year 2004 in the United States of America. In addition to the 1.2 million job opportunities, 5.8 million job openings associated with the biotechnology industry was also created. Average yearly salary of the individuals employed in the biotechnology industry was approximately $65,775 in the year 2004. The biotechnology industry brought finances worth in $20 billion in finances in the year 2005. Market Capitalization of the biotechnology companies which traded publicly stood at $410 billion as on 31st December, 2005.
Role of the biotechnology industry:
* 200 plus vaccinations, products, therapies have been created by the biotechnology industry to combat cancer, autoimmune syndromes, diabetes, HIV/AIDS etc.,.
* Biotechnology industry has developed several environment friendly products treating elements which pollute the environment.
* Biotechnology is also used in industrial houses for the optimum usage of the various forms of energy.
* Biotechnology industry also plays a significant role in taking forensic science ahead by using methods relating to DNA fingerprinting.
Biotechnology industry and the economy:
Various activities related to life sciences as well as the biotechnology industry recruited 1.2 million individuals in the year 2004 in the United States of America. In addition to the 1.2 million job opportunities, 5.8 million job openings associated with the biotechnology industry was also created. Average yearly salary of the individuals employed in the biotechnology industry was approximately $65,775 in the year 2004. The biotechnology industry brought finances worth in $20 billion in finances in the year 2005. Market Capitalization of the biotechnology companies which traded publicly stood at $410 billion as on 31st December, 2005.
Role of the biotechnology industry:
* 200 plus vaccinations, products, therapies have been created by the biotechnology industry to combat cancer, autoimmune syndromes, diabetes, HIV/AIDS etc.,.
* Biotechnology industry has developed several environment friendly products treating elements which pollute the environment.
* Biotechnology is also used in industrial houses for the optimum usage of the various forms of energy.
* Biotechnology industry also plays a significant role in taking forensic science ahead by using methods relating to DNA fingerprinting.
Chemical Industry
Chemical Industry refers to the industry which is involved in the business of making different products from raw materials through Chemical Reactions. Generally, the Raw Materials used in the Chemical Industry are oil, natural gas, metals, minerals, coal, salt and last but not the least air and water.
Chemical Industries are very important for the economy of any country. This is because, these Chemical Industries supply the farmers Pesticides and Fertilizers which are essential for crop growing. In this way Chemical Industries contribute to agriculture and food self sufficiency of every country.
Other than direct contribution to agriculture, Chemical Industry contributes indirectly to almost every sector of every economy. In our every day life, we use a lot of industrial products and most of them are related to Chemical Industry in some way or the other. Chemical Industry produces the fibers and dyes which are used in textile industries. It supplies the Synthetic Sweeteners and Synthetic Flavors which are used by Food Manufacturing Companies. Chemical Industry indirectly helps the Pharmaceutical Industry and Health Care Industry by providing the essential Chemical Components. Not only that Plastic requirement of Packaging Industry and Artificial Rubber requirement of the Automobile Industry are also met by the very same Chemical Industries.
Chemical Industries are very important for the economy of any country. This is because, these Chemical Industries supply the farmers Pesticides and Fertilizers which are essential for crop growing. In this way Chemical Industries contribute to agriculture and food self sufficiency of every country.
Other than direct contribution to agriculture, Chemical Industry contributes indirectly to almost every sector of every economy. In our every day life, we use a lot of industrial products and most of them are related to Chemical Industry in some way or the other. Chemical Industry produces the fibers and dyes which are used in textile industries. It supplies the Synthetic Sweeteners and Synthetic Flavors which are used by Food Manufacturing Companies. Chemical Industry indirectly helps the Pharmaceutical Industry and Health Care Industry by providing the essential Chemical Components. Not only that Plastic requirement of Packaging Industry and Artificial Rubber requirement of the Automobile Industry are also met by the very same Chemical Industries.
Casino industry
The casino industry is a global gaming industry generating a large volume of revenues, and one that has been growing strongly, particularly as affluence grows in Asia. It offers a large variety of employment opportunities. Casinos are entirely illegal in some countries such as India and most of the arab world, while they are being partially legalised in countries such as Singapore.
Industry Gross Revenue
Card Rooms $1.10 billion
Commercial Casinos $34.11 billion
Charitable Games and Bingo $2.24 billion
Indian Casinos $25.08 billion
Legal Bookmaking $191.0 million
Lotteries $24.63 billion
Pari-mutuel Wagering $3.58 billion
Casino industry employment
Casino industry employs workers for conduction of table games like following.
1.Craps
2.Roulette
3.Red dog
4.Blackjack
5.Baccarat
Some casino employees are employed for keeping a tab on patrons and for detection of cheating of house rules. Starting from gambling dealers, gambling cashiers, slot machine attendants, slot machine technicians, keno writers, gambling monitors, pit managers to casino managers a whole lot posts (to name a few) are available in casino industry. Apart from these, casino industry generates various types of support jobs in local hotel industry. These employ professionals in field of food and beverage preparation, building and maintenance, housekeeping, sales and marketing, purchasing agent and public relations to name a few.
Equipments used in casino industry include following.
1.Cards
2.Electrical test instruments
3.Gaming table
4.Hand tools
5.Chips and tokens
6.Markers
7.Spinning wheels
8.Tickets
9.Dice
Internet gambling
Since the dawn of the internet era, online gambling or internet gambling has gained immense popularity throughout the world. As per estimation there exists over 2,000 online gambling websites, which offer different kinds of wagering options like sports betting, bingo, online casino games and lotteries. In 2005 US earned $5.9 billion in revenues from internet gambling. Out of an estimated 23 million online gamblers nearly 8 million belonged to US in 2005. From a purely economic point of view, the casino industry leads to employment creation and helps local population to move to a higher welfare level via creation of many positive externalities.
Industry Gross Revenue
Card Rooms $1.10 billion
Commercial Casinos $34.11 billion
Charitable Games and Bingo $2.24 billion
Indian Casinos $25.08 billion
Legal Bookmaking $191.0 million
Lotteries $24.63 billion
Pari-mutuel Wagering $3.58 billion
Casino industry employment
Casino industry employs workers for conduction of table games like following.
1.Craps
2.Roulette
3.Red dog
4.Blackjack
5.Baccarat
Some casino employees are employed for keeping a tab on patrons and for detection of cheating of house rules. Starting from gambling dealers, gambling cashiers, slot machine attendants, slot machine technicians, keno writers, gambling monitors, pit managers to casino managers a whole lot posts (to name a few) are available in casino industry. Apart from these, casino industry generates various types of support jobs in local hotel industry. These employ professionals in field of food and beverage preparation, building and maintenance, housekeeping, sales and marketing, purchasing agent and public relations to name a few.
Equipments used in casino industry include following.
1.Cards
2.Electrical test instruments
3.Gaming table
4.Hand tools
5.Chips and tokens
6.Markers
7.Spinning wheels
8.Tickets
9.Dice
Internet gambling
Since the dawn of the internet era, online gambling or internet gambling has gained immense popularity throughout the world. As per estimation there exists over 2,000 online gambling websites, which offer different kinds of wagering options like sports betting, bingo, online casino games and lotteries. In 2005 US earned $5.9 billion in revenues from internet gambling. Out of an estimated 23 million online gamblers nearly 8 million belonged to US in 2005. From a purely economic point of view, the casino industry leads to employment creation and helps local population to move to a higher welfare level via creation of many positive externalities.
Defense industry
Defense industry includes defense contractors, arms industry, private military contractors, and European defense procurement.
Defense industry is also known as military industry. It comprises government and commercial bodies actively involved in research and development of military equipments. Defense industry also involves production and service of military equipment and facilities.
Defense contractors
Defense contractors offer products or services to defense department of national governments. They can be an individual entity as well as an organization. Products supplied by defense contractors include military aircrafts, vehicles, ships, weaponry, and electronic systems. Services offered by defense contractors may include logistics, technical support, training, and communications.
In 2007, Lockheed Martin was identified as world’s number one defense contractor, followed by Boeing, BAE Systems, Northrop Grumman, Raytheon, General Dynamics, EADS, and L-3 Communications.
Arms industry
Arms industry is responsible for manufacturing and selling military weapons and equipments. Some products manufactured by arms industry include guns, missiles, ammunition, military aircrafts, and electronic systems.
According to rough estimations, world spending on military expenditure runs into more than 1 trillion dollar. Out of this, a major part of the fund is used to purchase military weapons and services from arms industry. In 2006, total arms sales made by top 100 defense companies exceeded $300 billion.
Illegal arms trade
Illegal arms trade occurs in many countries. These arms are traded in domestic market and are meant to be used by citizens. Regions where political instability exists are prone to the occurrence of illegal trade of arms.
Top arms exporters
US top the list of world’s top arms exporters. Russia, European Union, Germany, France, UK, and Netherlands are also recognized as major arms exporting countries.
US financial crisis
US financial crisis is also believed to cause a negative impact on defense industry. Defense companies like Boeing are apprehensive about the effect that government’s bailout plan is likely to cause on their business. Sale of fighter jets, tanks, and ships could be affected. Next US President is likely to face immense pressure to reduce government spending on military programs.
Defense industry is also known as military industry. It comprises government and commercial bodies actively involved in research and development of military equipments. Defense industry also involves production and service of military equipment and facilities.
Defense contractors
Defense contractors offer products or services to defense department of national governments. They can be an individual entity as well as an organization. Products supplied by defense contractors include military aircrafts, vehicles, ships, weaponry, and electronic systems. Services offered by defense contractors may include logistics, technical support, training, and communications.
In 2007, Lockheed Martin was identified as world’s number one defense contractor, followed by Boeing, BAE Systems, Northrop Grumman, Raytheon, General Dynamics, EADS, and L-3 Communications.
Arms industry
Arms industry is responsible for manufacturing and selling military weapons and equipments. Some products manufactured by arms industry include guns, missiles, ammunition, military aircrafts, and electronic systems.
According to rough estimations, world spending on military expenditure runs into more than 1 trillion dollar. Out of this, a major part of the fund is used to purchase military weapons and services from arms industry. In 2006, total arms sales made by top 100 defense companies exceeded $300 billion.
Illegal arms trade
Illegal arms trade occurs in many countries. These arms are traded in domestic market and are meant to be used by citizens. Regions where political instability exists are prone to the occurrence of illegal trade of arms.
Top arms exporters
US top the list of world’s top arms exporters. Russia, European Union, Germany, France, UK, and Netherlands are also recognized as major arms exporting countries.
US financial crisis
US financial crisis is also believed to cause a negative impact on defense industry. Defense companies like Boeing are apprehensive about the effect that government’s bailout plan is likely to cause on their business. Sale of fighter jets, tanks, and ships could be affected. Next US President is likely to face immense pressure to reduce government spending on military programs.
Construction Industry
Construction Industry is one of the most booming industries in the whole world. This industry is mainly an urban based one which is concerned with preparation as well as construction of real estate properties. The repairing of any existing building or making certain alterations in the same also comes under Construction Industry. This industry can be categorized into three basic categories namely :-
* Construction involving heavy and civil engineering
The construction of large projects such as bridge, road, etc comes under this category.
* General construction
The construction works that involve building of real estate ones such as residential or commercial real estate assets, etc.
* Construction projects involving specialty trades
Construction works that involve building up of specialized items namely, electric related works, works on woods, etc.
It is generally being observed in the all round the globe in the
Construction Industry
that the contractor individual or organization involved in the construction process specialize in any one of the above mentioned categories. A contractor who is involved in building real estate do not generally go for specialized trade or heavy engineering works. The same is also true for other kind of contractors.
Construction Industry is a booming industry and remain so with the continuation of the development process especially in the developing countries. With the process of development, the migration of people takes place from the rural to urban areas. This phenomenon is most significantly observed in the "Asian Tiger" countries, China and India. Thus, the Construction Industry is also on a rise in such countries.
* Construction involving heavy and civil engineering
The construction of large projects such as bridge, road, etc comes under this category.
* General construction
The construction works that involve building of real estate ones such as residential or commercial real estate assets, etc.
* Construction projects involving specialty trades
Construction works that involve building up of specialized items namely, electric related works, works on woods, etc.
It is generally being observed in the all round the globe in the
Construction Industry
that the contractor individual or organization involved in the construction process specialize in any one of the above mentioned categories. A contractor who is involved in building real estate do not generally go for specialized trade or heavy engineering works. The same is also true for other kind of contractors.
Construction Industry is a booming industry and remain so with the continuation of the development process especially in the developing countries. With the process of development, the migration of people takes place from the rural to urban areas. This phenomenon is most significantly observed in the "Asian Tiger" countries, China and India. Thus, the Construction Industry is also on a rise in such countries.
Education Sector
The education industry consists of schools, colleges, universities and various private institutions. The education sector can be broadly classified into three categories:
* K-12: This includes the education offered from nursery to the twelfth grade by various public, private and religious schools.
* Higher education: This includes various state-run and private colleges and universities. This also includes Med Schools, Law Schools and Business Schools.
* Vocational education: This includes industry/job oriented education, based on the apprenticeship method of learning.
The education industry is not just restricted to these categories. It also includes ancillary education services, such as after-school tutoring, charter schools, special or alternative education, educational content suppliers and professional development of administrators and teachers.
History of the Education Industry
Education has been practiced since time immemorial to instill social and cultural values. In the ancient times, the education system was verbal, carried out generally by the elders of the family. The writing system developed around 3500 BC, enabling the recording and sharing of information. In most ancient societies, the state of literacy was bleak for centuries.
The education industry was initially associated with law, trade and commerce, religion and civil administration. Formal education was available to only a small fraction of the population. The system developed in most countries after 1850 CE.
The modern education industry consists of training by professionals and organized instructions with respect to systematic curricula and pedagogy.
Demand and Supply Drivers of the Education Industry
The demand drivers of the education sector include:
* Household disposable income.
* Cost of education.
* Opportunity cost of education (education versus job).
* Cultural factors (opinion on education of girls).
* Role of government to boost education.
The supply drivers of the industry include:
* Availability of labor force (teachers and administrators).
* Government funding (to establish affordable education centers)
* Changes in social outlook.
Education Industry: Major Players
Among the premiere colleges across the world, the Ivy League colleges of the US hold an important position. This category of colleges includes Brown, Cornell, Columbia, Dartmouth, Harvard, Pennsylvania, Princeton and Yale.Science, business (particularly Masters of Business Administration or MBA) and accounting degrees continue to be popular course choices.
According to the Chronicle of Higher Education, among the most expensive universities of the world, the top five are from the US. This includes George Washington University, with a tuition fee of $39,240 for the academic session 2007-2008. Rounding off the top five are:
* Ohio’s Kenyon College ($38,140)
* Bucknell University ($38,134)
* Vassar College ($38,115)
* Sarah Lawrence College ($38,090)
The education industry is booming across the world. The industry generates large scale revenues and employment. The revenue from higher education alone in the US is worth over $400 billion. However, the state of the education industry in most developing countries, such as Afghanistan, Bangladesh, Pakistan and nearly all of Africa, is bleak. The literacy rate in these countries is still below 60%.
* K-12: This includes the education offered from nursery to the twelfth grade by various public, private and religious schools.
* Higher education: This includes various state-run and private colleges and universities. This also includes Med Schools, Law Schools and Business Schools.
* Vocational education: This includes industry/job oriented education, based on the apprenticeship method of learning.
The education industry is not just restricted to these categories. It also includes ancillary education services, such as after-school tutoring, charter schools, special or alternative education, educational content suppliers and professional development of administrators and teachers.
History of the Education Industry
Education has been practiced since time immemorial to instill social and cultural values. In the ancient times, the education system was verbal, carried out generally by the elders of the family. The writing system developed around 3500 BC, enabling the recording and sharing of information. In most ancient societies, the state of literacy was bleak for centuries.
The education industry was initially associated with law, trade and commerce, religion and civil administration. Formal education was available to only a small fraction of the population. The system developed in most countries after 1850 CE.
The modern education industry consists of training by professionals and organized instructions with respect to systematic curricula and pedagogy.
Demand and Supply Drivers of the Education Industry
The demand drivers of the education sector include:
* Household disposable income.
* Cost of education.
* Opportunity cost of education (education versus job).
* Cultural factors (opinion on education of girls).
* Role of government to boost education.
The supply drivers of the industry include:
* Availability of labor force (teachers and administrators).
* Government funding (to establish affordable education centers)
* Changes in social outlook.
Education Industry: Major Players
Among the premiere colleges across the world, the Ivy League colleges of the US hold an important position. This category of colleges includes Brown, Cornell, Columbia, Dartmouth, Harvard, Pennsylvania, Princeton and Yale.Science, business (particularly Masters of Business Administration or MBA) and accounting degrees continue to be popular course choices.
According to the Chronicle of Higher Education, among the most expensive universities of the world, the top five are from the US. This includes George Washington University, with a tuition fee of $39,240 for the academic session 2007-2008. Rounding off the top five are:
* Ohio’s Kenyon College ($38,140)
* Bucknell University ($38,134)
* Vassar College ($38,115)
* Sarah Lawrence College ($38,090)
The education industry is booming across the world. The industry generates large scale revenues and employment. The revenue from higher education alone in the US is worth over $400 billion. However, the state of the education industry in most developing countries, such as Afghanistan, Bangladesh, Pakistan and nearly all of Africa, is bleak. The literacy rate in these countries is still below 60%.
Engineering Industry
Engineering industry primarily deals with the design, manufacture and operation of structures, machines or devices. Engineering industry primarily comprise of sectors like civil, industrial, mechanical and chemical.
Parts of engineering industry with their respective functions
Engineering industry comprises of chemical, civil, industrial and mechanical engineering divisions, where civil engineering division basically concerned with the activities like planning, construction, designing or manufacturing of structures. The chemical industry is concerned with engineering activities like construction, design and operation of plants and machinery of chemical products like drugs, synthetic rubber etc. Electrical engineering primarily deals with all engineering activities like manufacturing of devices for generation of electricity or designing devices for transmission of electricity. This electrical engineering division is also concerned with the designing and manufacturing of electronic devices including computers and it's accessories. The mechanical engineering division specifically deals with designing and manufacturing of power plants, engines or related devices and the industrial engineering is principally concerned with the processing of production like laying out plants etc. Engineering industry also comprise of fields like Aeronautical engineering, where engineers supervise designing of aircraft, missiles etc.
Job opportunities in engineering industry
The Engineering industry has an enormous potential of creating new jobs within the industry. The job categories are primarily based on designing, manufacturing, installing, repairing, packaging or selling engineering products. The other employment areas include construction, building, mining, etc.
Prospect of engineering industry
Modern technologies and innovative techniques, specifically in sectors like electronic engineering add to the prosperity of the engineering industry.
Parts of engineering industry with their respective functions
Engineering industry comprises of chemical, civil, industrial and mechanical engineering divisions, where civil engineering division basically concerned with the activities like planning, construction, designing or manufacturing of structures. The chemical industry is concerned with engineering activities like construction, design and operation of plants and machinery of chemical products like drugs, synthetic rubber etc. Electrical engineering primarily deals with all engineering activities like manufacturing of devices for generation of electricity or designing devices for transmission of electricity. This electrical engineering division is also concerned with the designing and manufacturing of electronic devices including computers and it's accessories. The mechanical engineering division specifically deals with designing and manufacturing of power plants, engines or related devices and the industrial engineering is principally concerned with the processing of production like laying out plants etc. Engineering industry also comprise of fields like Aeronautical engineering, where engineers supervise designing of aircraft, missiles etc.
Job opportunities in engineering industry
The Engineering industry has an enormous potential of creating new jobs within the industry. The job categories are primarily based on designing, manufacturing, installing, repairing, packaging or selling engineering products. The other employment areas include construction, building, mining, etc.
Prospect of engineering industry
Modern technologies and innovative techniques, specifically in sectors like electronic engineering add to the prosperity of the engineering industry.
Energy Industry
The energy industry is primarily controlled, and governed by leading countries like USA, France, Russia, China and India. The energy industry comprise of energy sources like biomass, electricity, hydrogen, hydro power, natural gas, coal, nuclear power, petroleum, solar power and power wind. The energy industry is principally dependent on fossil fuel energy sources. Energy industry encompasses all the associated sub industries like petroleum industry, gas industry, electrical power industry, nuclear power industry, and unconventional energy industry.
Petroleum industry: The major components of this industry are petroleum refiners, oil companies, fuel transport and selling at gas stations.
Gas industry: This industry comprise of activities like coal gas manufacturing, natural gas extraction, distribution and sales
Electrical power industry: The associated activities of electrical power industry include electric power distribution, electricity generation, and sales. The other major two industry components are coal industry and nuclear power industry. Most of the leading countries are emphasizing on nuclear power energy sector, as it can be regarded as the future energy sources. Some alternative energy and sustainable energy sources comprise of wind energy sources and solar energy sources.
Economical perspective of energy industry
The petrochemical industry can be regarded as the most emerging energy businesses industry in the coming years and due to high earning probability, world's leading countries are showing their interest to invest in this petrochemical energy sector. Industrialists are trying to innovate ways to adapt fuels for power generation and they are searching for alternative energy resources like energy derived from agricultural food, crops, agricultural crop wastes and residues, and geothermal energy.
Environmental impact on energy industry
The impact on environment is a prime concern to be considered, as the energy industries are generating a large amount of pollutants in the environment like toxic gases (carbon di-oxide, carbon monoxide, sulphur dioxide etc.) and greenhouse gases from fuel combustion and nuclear wastes and residues from nuclear power station. These pollutants can cause severe health hazards to the public.
Petroleum industry: The major components of this industry are petroleum refiners, oil companies, fuel transport and selling at gas stations.
Gas industry: This industry comprise of activities like coal gas manufacturing, natural gas extraction, distribution and sales
Electrical power industry: The associated activities of electrical power industry include electric power distribution, electricity generation, and sales. The other major two industry components are coal industry and nuclear power industry. Most of the leading countries are emphasizing on nuclear power energy sector, as it can be regarded as the future energy sources. Some alternative energy and sustainable energy sources comprise of wind energy sources and solar energy sources.
Economical perspective of energy industry
The petrochemical industry can be regarded as the most emerging energy businesses industry in the coming years and due to high earning probability, world's leading countries are showing their interest to invest in this petrochemical energy sector. Industrialists are trying to innovate ways to adapt fuels for power generation and they are searching for alternative energy resources like energy derived from agricultural food, crops, agricultural crop wastes and residues, and geothermal energy.
Environmental impact on energy industry
The impact on environment is a prime concern to be considered, as the energy industries are generating a large amount of pollutants in the environment like toxic gases (carbon di-oxide, carbon monoxide, sulphur dioxide etc.) and greenhouse gases from fuel combustion and nuclear wastes and residues from nuclear power station. These pollutants can cause severe health hazards to the public.
Fertilizer Industry
Though much euphoric services sector growth in Indian economy has drawn the attention over the globe, still its importance brings confusion when we come across the parameters like increasing inequality and a stalemate in condition.
Agriculture the backbone of Indian Economy still holds its relative importance for more than a billion peoples. The Government Of India from time to time has taken considerable steps for the upliftment of Agriculture Sector. Here we have analyzed the performance of Fertilizer Industry being one of the vital parts in agricultural production and Government's policy initiatives for the same.
Fertilizer in the agricultural process is an important area of concern. Fertilizer industry in India has succeeded in meeting the demand of all chemical fertilizers in the recent years.The Fertilizer Industry in India started its first manufacturing unit of Single Super Phosphate (SSP) in Ranipet near Chennai with a capacity of 6000 MT a year.
India's green revolution in late sixties gave a positive boost to the sector. The sector experienced a faster growth rate and presently India is the third largest fertilizer producer in the world.
According to Given Statistics, total capacity of the industry as on 30.01.2003 has reached a level of 121.10 lakh MT of nitrogen (inclusive of an installed capacity of 208.42 lakh MT of urea after reassessment of capacity) and 53.60 lakh MT of phosphatic nutrient.
Presently there are 57 large fertilizers plants in the country producing urea, DAP, Complex fertilizer,Ammonium Sulphate (AS) and Calcium Ammonium Nitrate (CAN).
Fertilizer Companies
Public Sector Fertilizer Companies:
NATIONAL FERTILIZERS LIMITED (NFL)
PARADEEP PHOSPHATES LIMITED (PPL)
FERTILISERS & CHEMICALS TRAVANCORE LTD. (FACT)
PYRITES, PHOSPHATES & CHEMICALS LTD. (PPCL)
HINDUSTAN FERTILIZER CORPORATION LIMITED (HFC)
Agriculture the backbone of Indian Economy still holds its relative importance for more than a billion peoples. The Government Of India from time to time has taken considerable steps for the upliftment of Agriculture Sector. Here we have analyzed the performance of Fertilizer Industry being one of the vital parts in agricultural production and Government's policy initiatives for the same.
Fertilizer in the agricultural process is an important area of concern. Fertilizer industry in India has succeeded in meeting the demand of all chemical fertilizers in the recent years.The Fertilizer Industry in India started its first manufacturing unit of Single Super Phosphate (SSP) in Ranipet near Chennai with a capacity of 6000 MT a year.
India's green revolution in late sixties gave a positive boost to the sector. The sector experienced a faster growth rate and presently India is the third largest fertilizer producer in the world.
According to Given Statistics, total capacity of the industry as on 30.01.2003 has reached a level of 121.10 lakh MT of nitrogen (inclusive of an installed capacity of 208.42 lakh MT of urea after reassessment of capacity) and 53.60 lakh MT of phosphatic nutrient.
Presently there are 57 large fertilizers plants in the country producing urea, DAP, Complex fertilizer,Ammonium Sulphate (AS) and Calcium Ammonium Nitrate (CAN).
Fertilizer Companies
Public Sector Fertilizer Companies:
NATIONAL FERTILIZERS LIMITED (NFL)
PARADEEP PHOSPHATES LIMITED (PPL)
FERTILISERS & CHEMICALS TRAVANCORE LTD. (FACT)
PYRITES, PHOSPHATES & CHEMICALS LTD. (PPCL)
HINDUSTAN FERTILIZER CORPORATION LIMITED (HFC)
Entertainments industry
Entertainments industry on a global scale employs a large number of people and is also major revenue grosser. USA and India in particular possess a thriving entertainment industry. Piracy poses a major threat to global entertainment industry. Digitalization is future of global entertainment industry.
Entertainments industry US vs. Japan
Entertainment industry comprises television industry, print media, filmed entertainment, radio, music and advertising. It has of late become an attractive investment option for investors. Japan has slowly but steadily become a major player in global entertainment industry via its expertise in digital entertainment options. Japan is a force to reckon with in digital media. In film business however US still has a lead over Japan with a production of around 800 films annually as opposed to a less than 300 figure for Japan per year. Japan has marked expertise in use of animation and interactive digital gaming and multimedia operations.
Indian entertainment industry
As per a March 2008 report, India’s entertainment and media industry has recorded a robust growth in recent years. In 2007 this industry was way ahead in performance in comparison to a whole lot of other domestic industries. It recorded a 17% growth in 2007 with an estimated volume of Rs 513 billion. Comparable figure was Rs 438 billion in previous year. This industry attracted a substantial volume of foreign investment amounting to Rs 8.5 billion in concerned reference period. Indian entertainment industry is estimated to reach a targeted Rs 1.157 trillion by year 2012. This overall robust performance of the industry has been spearheaded by performance of Indian advertising industry, which contributed around Rs 196 billion in year 2007. Comparable figure for this in preceding year was Rs 161 billion. In 2004-2007 phase Indian advertising industry recorded an overall cumulative growth rate of around 20%.
Entertainments industry US vs. Japan
Entertainment industry comprises television industry, print media, filmed entertainment, radio, music and advertising. It has of late become an attractive investment option for investors. Japan has slowly but steadily become a major player in global entertainment industry via its expertise in digital entertainment options. Japan is a force to reckon with in digital media. In film business however US still has a lead over Japan with a production of around 800 films annually as opposed to a less than 300 figure for Japan per year. Japan has marked expertise in use of animation and interactive digital gaming and multimedia operations.
Indian entertainment industry
As per a March 2008 report, India’s entertainment and media industry has recorded a robust growth in recent years. In 2007 this industry was way ahead in performance in comparison to a whole lot of other domestic industries. It recorded a 17% growth in 2007 with an estimated volume of Rs 513 billion. Comparable figure was Rs 438 billion in previous year. This industry attracted a substantial volume of foreign investment amounting to Rs 8.5 billion in concerned reference period. Indian entertainment industry is estimated to reach a targeted Rs 1.157 trillion by year 2012. This overall robust performance of the industry has been spearheaded by performance of Indian advertising industry, which contributed around Rs 196 billion in year 2007. Comparable figure for this in preceding year was Rs 161 billion. In 2004-2007 phase Indian advertising industry recorded an overall cumulative growth rate of around 20%.
Financial Industry
The financial industry, or financial services industry, includes a wide range of companies and institutions involved with money, including businesses providing money management, lending, investing, insuring and securities issuance and trading services. The following institutions are a part of the financial industry:
# Banks
# Credit card issuers
# Insurance companies
# Investment bankers
# Securities traders
# Financial planners
# Security exchanges
Financial Industry: History
The major events that have shaped the modern finance industry are:
* The Great Depression (1929): The Great Depression originated in the US with the Wall Street crash in October 1929. The effects of the depression spread across the world, especially in the heavy industries. Capital requirements regulation, financial industry oversights and the insurance of deposit accounts sprang out of this tumultuous period.
* Black Monday (1987): On October 19, the stock markets across the world witnessed a huge crash. This was the largest one day decline in the stock market history. The crash started in Hong Kong, spreading to Europe and the US. Analysts blamed computer trading systems for magnifying the losses.
* Asian Financial Crisis (1990s): The Asian Financial Crisis was triggered by the collapse of Thai baht as the government of Thailand decided to float the national currency. The nation had a huge foreign debt at that point, driving it to the verge of bankruptcy. The crisis rippled across the whole of Southeast Asia and has led to many emerging market countries to reduce debts and build up foreign currency reserves.
* Stock Market Downturn (2002): Stock exchanges around the world witnessed a significant decline in March 2002. It was attributed to the bursting of the ‘Dot-com Bubble’, which saw major Internet companies going bankrupt.
* Sub-prime Crisis (2007): Credit markets faced major crunch due to large scale default on loans. It led to the Financial Crisis of 2008 – 2009 and resulted in the bankruptcy, fire-sale acquisition and government bailouts of finance industry giants such as Lehman Brothers, Bear Stearns, AIG, Fannie Mae, Freddie Mac, Merrill Lynch, Wachovia, Northern Rock, Lloyds TSB, HBOS, RBS and the entire banking system of Iceland. The world economy can expect reduced growth rates and tighter regulations as a result of this crisis.
Financial Industry: Demand and Supply Drivers
Demand for financial products are driven by risk-reward assessments, which consider:
* Potential Yield
* Risk rating
* Liquidity
* Availability of information
* Access to alternatives
The major supply drivers are:
* Money supply
* Interest rates
* Inflation
* Economic conditions
* Government regulations
Financial Industry: Major Players
According to the Global 2000 (annual report by Forbes), seven of the world’s top 10 companies belonged to the financial industry. These included Citigroup, Bank of America, HSBC Holdings and JPMorgan Chase. Their combined revenues in 2007 were worth $645 billion, down from the 2006 high of $785 billion.
According to the Fortune 500 rankings, in 2006 financial services generated $257 billion in profits, a third of total Fortune 500 profits. In 2008, however, they lost a staggering $213 billion, a total swing of $470 billion. Big players on the list, such as Citigroup and Bank of America, may only be alive today thanks to government money.
The finance industry is an industry in itself as well as an ancillary that supports other industries. Trade and commerce across the world would come to a standstill if there was no means to fund, pay and protect the transactions, hence the need for governments to support the financial services industry when companies that are ‘too big to fail’ are close to collapse.
# Banks
# Credit card issuers
# Insurance companies
# Investment bankers
# Securities traders
# Financial planners
# Security exchanges
Financial Industry: History
The major events that have shaped the modern finance industry are:
* The Great Depression (1929): The Great Depression originated in the US with the Wall Street crash in October 1929. The effects of the depression spread across the world, especially in the heavy industries. Capital requirements regulation, financial industry oversights and the insurance of deposit accounts sprang out of this tumultuous period.
* Black Monday (1987): On October 19, the stock markets across the world witnessed a huge crash. This was the largest one day decline in the stock market history. The crash started in Hong Kong, spreading to Europe and the US. Analysts blamed computer trading systems for magnifying the losses.
* Asian Financial Crisis (1990s): The Asian Financial Crisis was triggered by the collapse of Thai baht as the government of Thailand decided to float the national currency. The nation had a huge foreign debt at that point, driving it to the verge of bankruptcy. The crisis rippled across the whole of Southeast Asia and has led to many emerging market countries to reduce debts and build up foreign currency reserves.
* Stock Market Downturn (2002): Stock exchanges around the world witnessed a significant decline in March 2002. It was attributed to the bursting of the ‘Dot-com Bubble’, which saw major Internet companies going bankrupt.
* Sub-prime Crisis (2007): Credit markets faced major crunch due to large scale default on loans. It led to the Financial Crisis of 2008 – 2009 and resulted in the bankruptcy, fire-sale acquisition and government bailouts of finance industry giants such as Lehman Brothers, Bear Stearns, AIG, Fannie Mae, Freddie Mac, Merrill Lynch, Wachovia, Northern Rock, Lloyds TSB, HBOS, RBS and the entire banking system of Iceland. The world economy can expect reduced growth rates and tighter regulations as a result of this crisis.
Financial Industry: Demand and Supply Drivers
Demand for financial products are driven by risk-reward assessments, which consider:
* Potential Yield
* Risk rating
* Liquidity
* Availability of information
* Access to alternatives
The major supply drivers are:
* Money supply
* Interest rates
* Inflation
* Economic conditions
* Government regulations
Financial Industry: Major Players
According to the Global 2000 (annual report by Forbes), seven of the world’s top 10 companies belonged to the financial industry. These included Citigroup, Bank of America, HSBC Holdings and JPMorgan Chase. Their combined revenues in 2007 were worth $645 billion, down from the 2006 high of $785 billion.
According to the Fortune 500 rankings, in 2006 financial services generated $257 billion in profits, a third of total Fortune 500 profits. In 2008, however, they lost a staggering $213 billion, a total swing of $470 billion. Big players on the list, such as Citigroup and Bank of America, may only be alive today thanks to government money.
The finance industry is an industry in itself as well as an ancillary that supports other industries. Trade and commerce across the world would come to a standstill if there was no means to fund, pay and protect the transactions, hence the need for governments to support the financial services industry when companies that are ‘too big to fail’ are close to collapse.
Film industry
Film industry primarily consists of individual motion pictures, art films and motion picture industry. Global film industry is major revenue grosser. India is a leading player in global film industry.
US film industry
As per a July 2008 report global film industry is all set to derive a host of benefits from what is known as global audit partnerships. Since the beginning of 20th century United State’s film industry has had a significant effect on global film industry. US film industry has witnessed four major phases as mentioned below.
1. Period of silent films
2. Period of classical Hollywood cinema
3. Period of New Hollywood cinema
4. Period of contemporary cinema (post 1980s)
European film industry: some facts
Public funding for European film industry rose by 10% on an average from 1997 - 2001. From 1997 to 2000 top EU film companies recorded almost a doubling of their operating revenues and total assets. While, European film companies have recorded mixed fortunes in concerned time frame, public funding of European films has shown an upward trend. Non-European Union nations accounted for just 5% of Europe’s total funding.
Indian film industry
India is arguably world’s largest film producer. It produces around 800 films per year. This sector earns considerable foreign investment. Motion pictures made its beginning in India as far back as 1896. Most of Indian films produced are in Hindi, while Tamil, Bengali, Malayalam and Telegu are regional languages in which films are produced. Indian film industry makes use of sophisticated technologies. As per 2001 data, annual turnover of Indian film industry stood at around Rs. 60 billion.
US film industry
As per a July 2008 report global film industry is all set to derive a host of benefits from what is known as global audit partnerships. Since the beginning of 20th century United State’s film industry has had a significant effect on global film industry. US film industry has witnessed four major phases as mentioned below.
1. Period of silent films
2. Period of classical Hollywood cinema
3. Period of New Hollywood cinema
4. Period of contemporary cinema (post 1980s)
European film industry: some facts
Public funding for European film industry rose by 10% on an average from 1997 - 2001. From 1997 to 2000 top EU film companies recorded almost a doubling of their operating revenues and total assets. While, European film companies have recorded mixed fortunes in concerned time frame, public funding of European films has shown an upward trend. Non-European Union nations accounted for just 5% of Europe’s total funding.
Indian film industry
India is arguably world’s largest film producer. It produces around 800 films per year. This sector earns considerable foreign investment. Motion pictures made its beginning in India as far back as 1896. Most of Indian films produced are in Hindi, while Tamil, Bengali, Malayalam and Telegu are regional languages in which films are produced. Indian film industry makes use of sophisticated technologies. As per 2001 data, annual turnover of Indian film industry stood at around Rs. 60 billion.
Food Industry
Food is an essential part of our lives, which is why the way it is grown, processed and transported is worth understanding and improving. Broadly, the food industry comprises a complex network of activities pertaining to the supply, consumption, and catering of food products and services across the world. Finished food products and partially prepared ‘instant’ food packets are also a part of the food industry. The food industry employs a massive number of skilled and unskilled workers. In 2006 alone, the food industry accounted for over 1.5 million jobs in the US and 4 million jobs in Europe. However, the food industry excludes subsistence farmers who use their produce for self consumption.
Components of Food Sector
The food industry is highly diverse and comprises several important components. Each component adds distinct value to the whole food chain by improving sustainability and producing better products.
The varied activities of the food sector are classified as follows:
# Agriculture activities for growing crops, raising livestock and sea food.
* Food processing of fresh products into canned and packed goods, including frozen foods.
* Research and development on food technology.
* Manufacturing fertilizers, farm machinery and hybrid seeds to facilitate agricultural production.
* Regulation on food production and distribution to ensure quality and safety.
* Financial services including insurance and credit to facilitate food production and distribution.
* Marketing, packaging, advertising and distribution (wholesale and retail).
History of Food Trade
The food trade has existed for centuries. For instance, Asia witnessed thriving trade in tea and silk in its ancient era. In the Middle East, the spice trade began way back in 2000 BC.
In 1953, the US food industry was revolutionized by Swanson’s presentation of the first ‘TV dinner.’
Some of the milestones of the food trade industry are:
# 19th century: Sterilization, pasteurization (the first canned food factory was inaugurated in England in 1813)
# 20th century:
1940s Frozen foods
1960s Freeze-dried, pressure-cooked foods
1980s Microwave foods
1990s Induction foods
Demand and Supply Drivers of Food Industry
A number of factors heighten the demand in the global food industry such as the population levels, wealth distribution, health awareness (organic food) and types of varied lifestyles. The food supply drivers include the quality of the supply chain, level of competition in the industry and the composition of the target consumers.
Food Industry: Major Players
The global food processing and beverage industry is dominated by a cluster of highly powerful multinational corporations. Some big names are ConAgra, Krafts Foods, Cadbury, General Mills, H.J. Heinz, Nestlé and Unilever. Top fast food franchises across the world include McDonalds, Pizza Hut, KFC and Dominoes Pizza. The US food industry generated revenue that totaled to $126 billion in 2008. Major frozen food manufacturers are ConAgra Foods and the Schwan Food Company. In 2007, the total revenue from the frozen food industry was about $100 billion.
Major players in the UK include Unilever, Compass, Tesco and Schweppes. They launched an initiative called ‘Plough to Plate’ to reconnect farmers to consumers and vice versa. Tesco’s prompt and impressive record of 5% reduction in energy consumption took place due to initiatives like the use of bakery extract controls and reflex energy saving lamps. Similar initiatives are required for energy savings, fiscal incentives and market incentives.
Rising prices in agricultural commodities have forced food makers to hike prices. The current challenge for the food industry is to accomplish economic success with a focus to improve energy savings and ensure social as well as environmental performance.
Components of Food Sector
The food industry is highly diverse and comprises several important components. Each component adds distinct value to the whole food chain by improving sustainability and producing better products.
The varied activities of the food sector are classified as follows:
# Agriculture activities for growing crops, raising livestock and sea food.
* Food processing of fresh products into canned and packed goods, including frozen foods.
* Research and development on food technology.
* Manufacturing fertilizers, farm machinery and hybrid seeds to facilitate agricultural production.
* Regulation on food production and distribution to ensure quality and safety.
* Financial services including insurance and credit to facilitate food production and distribution.
* Marketing, packaging, advertising and distribution (wholesale and retail).
History of Food Trade
The food trade has existed for centuries. For instance, Asia witnessed thriving trade in tea and silk in its ancient era. In the Middle East, the spice trade began way back in 2000 BC.
In 1953, the US food industry was revolutionized by Swanson’s presentation of the first ‘TV dinner.’
Some of the milestones of the food trade industry are:
# 19th century: Sterilization, pasteurization (the first canned food factory was inaugurated in England in 1813)
# 20th century:
1940s Frozen foods
1960s Freeze-dried, pressure-cooked foods
1980s Microwave foods
1990s Induction foods
Demand and Supply Drivers of Food Industry
A number of factors heighten the demand in the global food industry such as the population levels, wealth distribution, health awareness (organic food) and types of varied lifestyles. The food supply drivers include the quality of the supply chain, level of competition in the industry and the composition of the target consumers.
Food Industry: Major Players
The global food processing and beverage industry is dominated by a cluster of highly powerful multinational corporations. Some big names are ConAgra, Krafts Foods, Cadbury, General Mills, H.J. Heinz, Nestlé and Unilever. Top fast food franchises across the world include McDonalds, Pizza Hut, KFC and Dominoes Pizza. The US food industry generated revenue that totaled to $126 billion in 2008. Major frozen food manufacturers are ConAgra Foods and the Schwan Food Company. In 2007, the total revenue from the frozen food industry was about $100 billion.
Major players in the UK include Unilever, Compass, Tesco and Schweppes. They launched an initiative called ‘Plough to Plate’ to reconnect farmers to consumers and vice versa. Tesco’s prompt and impressive record of 5% reduction in energy consumption took place due to initiatives like the use of bakery extract controls and reflex energy saving lamps. Similar initiatives are required for energy savings, fiscal incentives and market incentives.
Rising prices in agricultural commodities have forced food makers to hike prices. The current challenge for the food industry is to accomplish economic success with a focus to improve energy savings and ensure social as well as environmental performance.
Health Care Industry
Health care industry plays an important part in the economy of a country. The health care industry determines the GDP or the gross domestic product of any country. It also determines exports status, employment, capital investment etc. Health care segment provides employment openings to many individuals directly associated with the health care sector or other associated sectors, related to the health care industry in some way or the other. Efforts are usually made to keep the dollars rolling within the country economic set up. Businesses dealing in health care adds to the already existing economy by buying utility programs, by paying taxes for property etc.,.
The health care industry consists of the following:
* Dentists and doctors
* Protective care and nursing
* Pharmacies
* Allied medical, health services
* Hospitals
The present era is likely to be dominated by expansion of demands in the market, increasing prices and increasing awareness among the customers. Such changes will trigger a change in the health care industry scenario for the better. The year of 1990 witnessed a sluggish rate of growth, the health expenses per capita marked an all time low. The sluggish nature could be due to the fact that several health programs were implemented efficiently.
The health care industry consists of the following:
* Dentists and doctors
* Protective care and nursing
* Pharmacies
* Allied medical, health services
* Hospitals
The present era is likely to be dominated by expansion of demands in the market, increasing prices and increasing awareness among the customers. Such changes will trigger a change in the health care industry scenario for the better. The year of 1990 witnessed a sluggish rate of growth, the health expenses per capita marked an all time low. The sluggish nature could be due to the fact that several health programs were implemented efficiently.
Gems and Jewellery Industry
The exports of gems and jewellery registered a upbeat growth of per cent in dollar terms during April - September 2004- 05.
In 2003-04 the exports of this sector increased by 16.8 per cent and crossed a level of US$10.5 billion. This is a particularly interesting industry from an Indian standpoint, since it involves imported raw materials, domestic value added, and global markets and provides skilled employment. Indian gems firms are tightly integrated into global production chains.
In order to give a boost to exports of gems and jewellery, Government took major policy initiatives during 2004-05.
* lowering import duty on platinum from Rs.550 per 10 gms to Rs.200
* exempting rough coloured precious gems stones from customs duty at the first stage itself instead of claiming reimbursements later.
* Rough semi precious stones are already exempt aimed to further increase the exports of studded jewellery and platinum jewellery.
The policies for this sector announced in the Foreign Trade Policy include:
* duty free import of consumables for metals other than gold and platinum up to 2 per cent of f.o.b. value of exports
* duty free re import entitlement for rejected jewellery up to 2 per cent of f.o.b. value of exports
* increased duty free import of commercial samples of jewellery to Rs.1 lakh
* import of gold of 18 carat and above under the replenishment scheme.
In 2003-04 the exports of this sector increased by 16.8 per cent and crossed a level of US$10.5 billion. This is a particularly interesting industry from an Indian standpoint, since it involves imported raw materials, domestic value added, and global markets and provides skilled employment. Indian gems firms are tightly integrated into global production chains.
In order to give a boost to exports of gems and jewellery, Government took major policy initiatives during 2004-05.
* lowering import duty on platinum from Rs.550 per 10 gms to Rs.200
* exempting rough coloured precious gems stones from customs duty at the first stage itself instead of claiming reimbursements later.
* Rough semi precious stones are already exempt aimed to further increase the exports of studded jewellery and platinum jewellery.
The policies for this sector announced in the Foreign Trade Policy include:
* duty free import of consumables for metals other than gold and platinum up to 2 per cent of f.o.b. value of exports
* duty free re import entitlement for rejected jewellery up to 2 per cent of f.o.b. value of exports
* increased duty free import of commercial samples of jewellery to Rs.1 lakh
* import of gold of 18 carat and above under the replenishment scheme.
Hospitality industry
Hospitality industry is a major employer. The industry includes service sector work like tourism and food service. It suffers from more economic fluctuations compared to its peer industries.
The hospitality industry is major service sector in the world economy. The industry encompass an extensive variety of service industries that include food service, tourism and hotels. Hospitality industry suffers from fluctuations within an economy every year.
Types
Hospitality industry can be empirically divided into two parts: entertainment areas like clubs and bars, and accommodation. Accommodation takes the form of public houses, resorts, inn, campgrounds, hotels, hostels, serviced apartments, and motels. The clubs and bars category include restaurants, fast foods, and nightclubs.
The hospitality industry also includes tourism support commercial activities like airline cabin staff and travel agents. Travel technology like applied information technology (IT) and its workers in hospitality, travel and tourism are included in the hospitality industry.
A hotel is an establishment that renders lodging in lieu of payment. This lodging is usually given in exchange for a specified predetermined amount of money. Modern hotel rooms come equipped with climate control and attached bathrooms. Higher end hotels offer guests internet connectivity within rooms and also throughout the premises. A combination of meals and accommodation comes as a package in most hospitality establishments. Hotels are usually managed by professionally qualified managers. Junior workers usually maintain the hotel. Functions like cooking is usually done by professionally trained chefs.
Nightclubs are entertainment venues where dancing is accompanied by light snacks and drinking. Apart from service personnel like waiters and cooks, nightclubs employ disc jockeys (DJs) and stand up comedians as part its varied attractions.
Fast-food restaurants now form a major part of the hospitality industry. These restaurants employ an optimal number of personnel for providing customer service. Food may also be sold from kiosks.
Low entry level
Hospitality industry are characterized by a large number of employees. Both white collar employees and blue collar workers may find gainful employment. Entry level jobs usually require no formal education. Professionals in the hospitality sector are usually qualified with trade certificates and college degrees. Many hospitality schools offer specialized courses of study in one particular aspect of the industry.
The hospitality industry is major service sector in the world economy. The industry encompass an extensive variety of service industries that include food service, tourism and hotels. Hospitality industry suffers from fluctuations within an economy every year.
Types
Hospitality industry can be empirically divided into two parts: entertainment areas like clubs and bars, and accommodation. Accommodation takes the form of public houses, resorts, inn, campgrounds, hotels, hostels, serviced apartments, and motels. The clubs and bars category include restaurants, fast foods, and nightclubs.
The hospitality industry also includes tourism support commercial activities like airline cabin staff and travel agents. Travel technology like applied information technology (IT) and its workers in hospitality, travel and tourism are included in the hospitality industry.
A hotel is an establishment that renders lodging in lieu of payment. This lodging is usually given in exchange for a specified predetermined amount of money. Modern hotel rooms come equipped with climate control and attached bathrooms. Higher end hotels offer guests internet connectivity within rooms and also throughout the premises. A combination of meals and accommodation comes as a package in most hospitality establishments. Hotels are usually managed by professionally qualified managers. Junior workers usually maintain the hotel. Functions like cooking is usually done by professionally trained chefs.
Nightclubs are entertainment venues where dancing is accompanied by light snacks and drinking. Apart from service personnel like waiters and cooks, nightclubs employ disc jockeys (DJs) and stand up comedians as part its varied attractions.
Fast-food restaurants now form a major part of the hospitality industry. These restaurants employ an optimal number of personnel for providing customer service. Food may also be sold from kiosks.
Low entry level
Hospitality industry are characterized by a large number of employees. Both white collar employees and blue collar workers may find gainful employment. Entry level jobs usually require no formal education. Professionals in the hospitality sector are usually qualified with trade certificates and college degrees. Many hospitality schools offer specialized courses of study in one particular aspect of the industry.
IT Industry
Information technology, and the hardware and software associated with the IT industry, are an integral part of nearly every major global industry.
The information technology (IT) industry has become of the most robust industries in the world. IT, more than any other industry or economic facet, has an increased productivity, particularly in the developed world, and therefore is a key driver of global economic growth. Economies of scale and insatiable demand from both consumers and enterprises characterize this rapidly growing sector.
The Information Technology Association of America (ITAA) explains 'information technology' as encompassing all possible aspects of information systems based on computers.
Both software development and the hardware involved in the IT industry include everything from computer systems, to the design, implementation, study and development of IT and management systems.
Owing to its easy accessibility and the wide range of IT products available, the demand for IT services has increased substantially over the years. The IT sector has emerged as a major global source of both growth and employment.
Features of the IT Industry at a Glance
* Economies of scale for the information technology industry are high. The marginal cost of each unit of additional software or hardware is insignificant compared to the value addition that results from it.
* Unlike other common industries, the IT industry is knowledge-based.
* Efficient utilization of skilled labor forces in the IT sector can help an economy achieve a rapid pace of economic growth.
* The IT industry helps many other sectors in the growth process of the economy including the services and manufacturing sectors.
The role of the IT Industry
The IT industry can serve as a medium of e-governance, as it assures easy accessibility to information. The use of information technology in the service sector improves operational efficiency and adds to transparency. It also serves as a medium of skill formation.
MAJOR STEPS TAKEN FOR PROMTION OF IT INDUSTRY
Domain of the IT Industry
A wide variety of services come under the domain of the information technology industry. Some of these services are as follows:
* Systems architecture
* Database design and development
* Networking
* Application development
* Testing
* Documentation
* Maintenance and hosting
* Operational support
* Security services
The information technology (IT) industry has become of the most robust industries in the world. IT, more than any other industry or economic facet, has an increased productivity, particularly in the developed world, and therefore is a key driver of global economic growth. Economies of scale and insatiable demand from both consumers and enterprises characterize this rapidly growing sector.
The Information Technology Association of America (ITAA) explains 'information technology' as encompassing all possible aspects of information systems based on computers.
Both software development and the hardware involved in the IT industry include everything from computer systems, to the design, implementation, study and development of IT and management systems.
Owing to its easy accessibility and the wide range of IT products available, the demand for IT services has increased substantially over the years. The IT sector has emerged as a major global source of both growth and employment.
Features of the IT Industry at a Glance
* Economies of scale for the information technology industry are high. The marginal cost of each unit of additional software or hardware is insignificant compared to the value addition that results from it.
* Unlike other common industries, the IT industry is knowledge-based.
* Efficient utilization of skilled labor forces in the IT sector can help an economy achieve a rapid pace of economic growth.
* The IT industry helps many other sectors in the growth process of the economy including the services and manufacturing sectors.
The role of the IT Industry
The IT industry can serve as a medium of e-governance, as it assures easy accessibility to information. The use of information technology in the service sector improves operational efficiency and adds to transparency. It also serves as a medium of skill formation.
MAJOR STEPS TAKEN FOR PROMTION OF IT INDUSTRY
Domain of the IT Industry
A wide variety of services come under the domain of the information technology industry. Some of these services are as follows:
* Systems architecture
* Database design and development
* Networking
* Application development
* Testing
* Documentation
* Maintenance and hosting
* Operational support
* Security services
Insurance Industry
The global insurance industry is one of the largest sectors of finance. It ranges from consumer to corporate and industrial insurance, and even reinsurance, or insurance of insurance.
The major insurance markets of the world are obviously the US, Europe, Japan, and South Korea. Emerging markets are found throughout Asia, specifically in India and China, and are also in Latin America.
With the internet and other forms of high-speed communication, companies and individuals are now able to purchase insurance and related financial products from almost anywhere in the world. Increasing affluence, especially in developing countries, and a rising understanding of the need to protect wealth and human capital has led to significant growth in the insurance industry.
Given the evolving and growing socio-economic conditions worldwide, insurance companies are increasingly reaching out across borders and are offering more competitive and customized products than ever before.
Over the past ten years, global insurance premiums have risen by more than 50%, with annual growth rates ranging between 2 and 10%.In 2004, global insurance premiums amounted to $3.3 trillion.
The majority of insurance comes from developed nations such as most of Europe, the US, and Japan. In 2004, premiums in North American amounted to $1,217 billion, while the European Union generated $1,198 billion, and Japan produced $492 billion. The UK amounted to $295 billion.
The four biggest generators of insurance premiums comprised almost two-thirds of premiums for 2004, the US and Japan amount to half, while they only make up 7% of the world’s population.
In contrast, the emerging markets that make up 85% of the world’s population produced only 10% of the premiums.
The leading global insurance companies are:
* Zurich Financial Services,
* AXA
* Berkshire Hathaway/ Berkshire Hathaway Re
* Allianz
* Aviva
* ING Group
* Munich RE Group
* American International Group (AIG)
* Nippon Life Insurance
* Assicurazioni Generali
* PartnerRe
* Munich Re
* Lloyd's
* Swiss Re
* Allianz Re
* Everest Re
* Hannover Re
* XL Re
* GE Insurance Solutions.
* State Farm Insurance Cos.
* Arch Capital Group
* Allstate
* Assurant
* Swiss Reinsurance
* Axis Capital Holdings
* Milea Holdings
* Bbloise Group
* St. Paul Travelers Cos.
* Britannic Group
* Prudential
* Cathay Financial
* Dai-ichi Mutual Life Insurance
* Cattolica Assicurazioni
* MetLife
* China Life Insurance
* Meiji Yasuda Life Insurance
* Chubb
* CNP Assurances
* Cincinnati Financial
* ACE
* CNP Assurances
* Aegon
* Conseco
* Aflac
* Converium Holding
* Aioi Insurance
* Corporation Mapfre
* Allmerica Financial
* Endurance Specialty
* Ambac Financial Group
* Erie Indemnity
* American Finl Group
* Euler Hermes
* American Natl Ins
* Everest Re Group
* AmerUs Group
* Fairfax Financial
* AMP
* Fidelity National Finl
* Aon
Insurance is a type of risk management used for the risks of loss.
# Insurance Types Auto Insurance
# Dental Insurance
# Home Insurance
# Travel Insurance
# Medical Insurance
# General Insurance
# Renters Insurance
# Life Insurance
# Disability Insurance
# Term Insurance
# Insurance Marketing
# Framer Insurance
# Insurance Agent
US Insurance
# USA Insurance Industry
# USA Insurance Companies
# NAIC
The major insurance markets of the world are obviously the US, Europe, Japan, and South Korea. Emerging markets are found throughout Asia, specifically in India and China, and are also in Latin America.
With the internet and other forms of high-speed communication, companies and individuals are now able to purchase insurance and related financial products from almost anywhere in the world. Increasing affluence, especially in developing countries, and a rising understanding of the need to protect wealth and human capital has led to significant growth in the insurance industry.
Given the evolving and growing socio-economic conditions worldwide, insurance companies are increasingly reaching out across borders and are offering more competitive and customized products than ever before.
Over the past ten years, global insurance premiums have risen by more than 50%, with annual growth rates ranging between 2 and 10%.In 2004, global insurance premiums amounted to $3.3 trillion.
The majority of insurance comes from developed nations such as most of Europe, the US, and Japan. In 2004, premiums in North American amounted to $1,217 billion, while the European Union generated $1,198 billion, and Japan produced $492 billion. The UK amounted to $295 billion.
The four biggest generators of insurance premiums comprised almost two-thirds of premiums for 2004, the US and Japan amount to half, while they only make up 7% of the world’s population.
In contrast, the emerging markets that make up 85% of the world’s population produced only 10% of the premiums.
The leading global insurance companies are:
* Zurich Financial Services,
* AXA
* Berkshire Hathaway/ Berkshire Hathaway Re
* Allianz
* Aviva
* ING Group
* Munich RE Group
* American International Group (AIG)
* Nippon Life Insurance
* Assicurazioni Generali
* PartnerRe
* Munich Re
* Lloyd's
* Swiss Re
* Allianz Re
* Everest Re
* Hannover Re
* XL Re
* GE Insurance Solutions.
* State Farm Insurance Cos.
* Arch Capital Group
* Allstate
* Assurant
* Swiss Reinsurance
* Axis Capital Holdings
* Milea Holdings
* Bbloise Group
* St. Paul Travelers Cos.
* Britannic Group
* Prudential
* Cathay Financial
* Dai-ichi Mutual Life Insurance
* Cattolica Assicurazioni
* MetLife
* China Life Insurance
* Meiji Yasuda Life Insurance
* Chubb
* CNP Assurances
* Cincinnati Financial
* ACE
* CNP Assurances
* Aegon
* Conseco
* Aflac
* Converium Holding
* Aioi Insurance
* Corporation Mapfre
* Allmerica Financial
* Endurance Specialty
* Ambac Financial Group
* Erie Indemnity
* American Finl Group
* Euler Hermes
* American Natl Ins
* Everest Re Group
* AmerUs Group
* Fairfax Financial
* AMP
* Fidelity National Finl
* Aon
Insurance is a type of risk management used for the risks of loss.
# Insurance Types Auto Insurance
# Dental Insurance
# Home Insurance
# Travel Insurance
# Medical Insurance
# General Insurance
# Renters Insurance
# Life Insurance
# Disability Insurance
# Term Insurance
# Insurance Marketing
# Framer Insurance
# Insurance Agent
US Insurance
# USA Insurance Industry
# USA Insurance Companies
# NAIC
Jute Industry
The jute sector occupies an important place in the Indian economy in general, and the eastern region in particular. The jute industry provides direct employment to about 0.26 million workers, and supports the livelihood of around 4.0 million farm families.
Around 0.14 million people are engaged in the tertiary sector and allied activities, supporting the jute economy. Presently it also contributes to exports to the tune of nearly Rs.1000 crore. The Government has included the Jute Sector for special attention in its National Common Minimum Programme.
Keeping in view its growing contribution to the economy, the Government of India has started the "Jute Technology Mission". This will benefit jute growers; the workers engaged in the jute industry, jute entrepreneurs and others employed in associated activities in the jute sector. It will help modernize the jute industry and enable the country to reap the benefits of enhanced levels of jute diversification.
For this mission, the Government approved a sum of Rs.355.55 crore. The Government also approved allocations for Mini Mission -I and Mini Mission-II under the JTM for the remaining year of X Plan i.e. 2006-07 at Rs.2.46 crore and 9.75 crore subject to the condition that the Ministry of Agriculture and Department of Expenditure will find savings from the existing allocation of Ministry of Agriculture.
The allocations for Mini Mission-III and Mini Mission-IV for the remaining year of the X Plan at Rs.7.95 crore and Rs.30.85 crore respectively have been approved, which will be funded from the Plan savings of Ministry of Textiles.
Around 0.14 million people are engaged in the tertiary sector and allied activities, supporting the jute economy. Presently it also contributes to exports to the tune of nearly Rs.1000 crore. The Government has included the Jute Sector for special attention in its National Common Minimum Programme.
Keeping in view its growing contribution to the economy, the Government of India has started the "Jute Technology Mission". This will benefit jute growers; the workers engaged in the jute industry, jute entrepreneurs and others employed in associated activities in the jute sector. It will help modernize the jute industry and enable the country to reap the benefits of enhanced levels of jute diversification.
For this mission, the Government approved a sum of Rs.355.55 crore. The Government also approved allocations for Mini Mission -I and Mini Mission-II under the JTM for the remaining year of X Plan i.e. 2006-07 at Rs.2.46 crore and 9.75 crore subject to the condition that the Ministry of Agriculture and Department of Expenditure will find savings from the existing allocation of Ministry of Agriculture.
The allocations for Mini Mission-III and Mini Mission-IV for the remaining year of the X Plan at Rs.7.95 crore and Rs.30.85 crore respectively have been approved, which will be funded from the Plan savings of Ministry of Textiles.
Stationery Industry
Stationery Industry: A Road Ahead
Small and Medium Enterprises play a vital role for the growth of Indian economyby contributing 45% of industrial output, 40% of exports, 42 million employments,create one million jobs every year and produce more than 8000 quality productsfor the Indian and international markets. As a result, MSMEs are today exposed togreater opportunities for expansion and diversification across the sectorsThe emergence of new technologies has a mixed impact on various industries.With new technology and falling prices for computers, printers and software arereducing the cost of business mail communication; on the other hand, focus oneducation by governments of various developing countries has increased thedemand of stationary and paper products substantially.
Stationery Industry is a very heterogeneous group of business usually associatedwith the Schools, Collages, and Office and plays a very crucial role in working ofany organization across the globe. It includes Paper stationery which comprises ofa vast collection of products like exercise books, note books, stitch, glued & tapepads, refill pads, flap over pads, subject books, plastic cover books etc. The hugegreeting card market, autograph books, party invites etc, is also a part of thissegment.
Paper and paper related products are tremendously gaining demand in the market.Out of which paper stationery market over the years has gained immensepopularity in the school and office segment throughout the world. Revolution forthese products has come to birth from the past few year’s majorly in developingnations and it's having immense value in terms of export and import.It is expected that Stationery industry has a flourishing future in it's coming yearsin India and over a period is estimated to grow at 10 to 15% p.a. To achieve thisobjective, one can actually see that how acceptance of Internet technology hasopened plethora of opportunities of sourcing the desired supplier in any part of theworld. The manufacturers of various countries including India, China, Indonesiaetc have started building new product strategies, which helps in reducing theiroverall cost without compromising on quality thus producing a good qualityproduct at competitive price.
Falling under the category of Small and Medium Enterprises in majorly most ofthe countries, this sector has lot to offer in terms of employment, tax revenues, itcan be an important source of new innovative products, extensive local knowledgeof resources, and can be a major service provider to the larger organizations.However, this sector like other sectors have certain bottlenecks which hinder thegrowth of this sector like Burdensome regulatory frameworks, Lack of taxincentives and subsidies, Absence of investor-friendly environment, Lack of accessto finance, Lack of capacity-building programs and inadequate provision ofvocational training etc.
Indian stationery Industry: Opportunities and Challenges
In the international arena India is providing more scope for development andtrends; however, with excellent quality, the Indian products are very much indemand. The Indian SME’s associated with stationery market has witnessedtremendous dynamic changes. In the last decade the Indian market has increasedvarieties to be exported in markets and has produced big market percentage.Indian Paper Stationery Industry, which is a part of the huge and scattered Indianstationery Industry, has been going through tremendous alteration in recent years.Despite fierce competition from neighboring markets, its scattered nature and theconstantly changing trends, the paper stationery industry makers continue to makeevery effort, due to which the fruitful results are coming slowly and steadily.Indian companies have learnt that innovation, performance and versatility are thekey area to be focused upon. Taking the points under consideration, thebusinessmen are now researching and developing new products, as the market isnow more of consumer oriented which is always looking for cost effective prices.This is because of the attitude of buyer which is now ready to spend more if areliable product is offered to him.
With seasonal export market which stays from April-June major importingcountries like U.S.A., Australia, Canada, major African countries and Middle Eastare the ones which accept Indian designs and style comfortably. With extremeprecautions, and the good quality products offered and new marketing strategiesare followed, the government has also come out with various incentives for SME’s.Particularly for stationary industry if we quote would be the educationenhancement schemes which are giving growth to this sector. The Indianstationery market is also influenced by macroeconomic development, nationalincome and lasts but not the least the ever-growing Indian population.The Indian stationery Industry is highly unorganized and the organized players areestimated to be less than the unorganized sector players due to which unorganizedstationery players are expanded throughout the industry and controls majormarket share.
However, Indian stationary industry is facing major competition from the Importerespecially Chinese manufacturers are the most competitive among all the otherworld market players as they have an advantage of mass production capacity,aggressive favorable government export policy, simplified low taxation and welldeveloped infrastructure.
Stationery Industry: Introspection Time
Indian businessmen involved in the business of stationary items needs to work onproper research and development of the sector. Design, Colors, Quality, Themes,reaching the right partners and to find out new markets for their products shouldbe on their agenda. Government at their level is taking initiatives; however, tobring in a spurt in the trade there is a need to focus on providing assistance tobusinessmen for buying good machinery, necessary infrastructure should beprovided, to enhance export activities, workshops, conferences and trainingprograms should be conducted at state and national level. Logistics is also a keyconcern that goods should reach on time which helps in maintaining a relationshipwith various customers across the globe.
Small and Medium Enterprises play a vital role for the growth of Indian economyby contributing 45% of industrial output, 40% of exports, 42 million employments,create one million jobs every year and produce more than 8000 quality productsfor the Indian and international markets. As a result, MSMEs are today exposed togreater opportunities for expansion and diversification across the sectorsThe emergence of new technologies has a mixed impact on various industries.With new technology and falling prices for computers, printers and software arereducing the cost of business mail communication; on the other hand, focus oneducation by governments of various developing countries has increased thedemand of stationary and paper products substantially.
Stationery Industry is a very heterogeneous group of business usually associatedwith the Schools, Collages, and Office and plays a very crucial role in working ofany organization across the globe. It includes Paper stationery which comprises ofa vast collection of products like exercise books, note books, stitch, glued & tapepads, refill pads, flap over pads, subject books, plastic cover books etc. The hugegreeting card market, autograph books, party invites etc, is also a part of thissegment.
Paper and paper related products are tremendously gaining demand in the market.Out of which paper stationery market over the years has gained immensepopularity in the school and office segment throughout the world. Revolution forthese products has come to birth from the past few year’s majorly in developingnations and it's having immense value in terms of export and import.It is expected that Stationery industry has a flourishing future in it's coming yearsin India and over a period is estimated to grow at 10 to 15% p.a. To achieve thisobjective, one can actually see that how acceptance of Internet technology hasopened plethora of opportunities of sourcing the desired supplier in any part of theworld. The manufacturers of various countries including India, China, Indonesiaetc have started building new product strategies, which helps in reducing theiroverall cost without compromising on quality thus producing a good qualityproduct at competitive price.
Falling under the category of Small and Medium Enterprises in majorly most ofthe countries, this sector has lot to offer in terms of employment, tax revenues, itcan be an important source of new innovative products, extensive local knowledgeof resources, and can be a major service provider to the larger organizations.However, this sector like other sectors have certain bottlenecks which hinder thegrowth of this sector like Burdensome regulatory frameworks, Lack of taxincentives and subsidies, Absence of investor-friendly environment, Lack of accessto finance, Lack of capacity-building programs and inadequate provision ofvocational training etc.
Indian stationery Industry: Opportunities and Challenges
In the international arena India is providing more scope for development andtrends; however, with excellent quality, the Indian products are very much indemand. The Indian SME’s associated with stationery market has witnessedtremendous dynamic changes. In the last decade the Indian market has increasedvarieties to be exported in markets and has produced big market percentage.Indian Paper Stationery Industry, which is a part of the huge and scattered Indianstationery Industry, has been going through tremendous alteration in recent years.Despite fierce competition from neighboring markets, its scattered nature and theconstantly changing trends, the paper stationery industry makers continue to makeevery effort, due to which the fruitful results are coming slowly and steadily.Indian companies have learnt that innovation, performance and versatility are thekey area to be focused upon. Taking the points under consideration, thebusinessmen are now researching and developing new products, as the market isnow more of consumer oriented which is always looking for cost effective prices.This is because of the attitude of buyer which is now ready to spend more if areliable product is offered to him.
With seasonal export market which stays from April-June major importingcountries like U.S.A., Australia, Canada, major African countries and Middle Eastare the ones which accept Indian designs and style comfortably. With extremeprecautions, and the good quality products offered and new marketing strategiesare followed, the government has also come out with various incentives for SME’s.Particularly for stationary industry if we quote would be the educationenhancement schemes which are giving growth to this sector. The Indianstationery market is also influenced by macroeconomic development, nationalincome and lasts but not the least the ever-growing Indian population.The Indian stationery Industry is highly unorganized and the organized players areestimated to be less than the unorganized sector players due to which unorganizedstationery players are expanded throughout the industry and controls majormarket share.
However, Indian stationary industry is facing major competition from the Importerespecially Chinese manufacturers are the most competitive among all the otherworld market players as they have an advantage of mass production capacity,aggressive favorable government export policy, simplified low taxation and welldeveloped infrastructure.
Stationery Industry: Introspection Time
Indian businessmen involved in the business of stationary items needs to work onproper research and development of the sector. Design, Colors, Quality, Themes,reaching the right partners and to find out new markets for their products shouldbe on their agenda. Government at their level is taking initiatives; however, tobring in a spurt in the trade there is a need to focus on providing assistance tobusinessmen for buying good machinery, necessary infrastructure should beprovided, to enhance export activities, workshops, conferences and trainingprograms should be conducted at state and national level. Logistics is also a keyconcern that goods should reach on time which helps in maintaining a relationshipwith various customers across the globe.
Sports Industry
Sports industry is an important revenue generator in world economy. Sports goods industry comprises sports equipments, accessories, and apparels. In addition to global giants, localized industries also contribute towards the growth and development of sports goods industries.
With increase in viewer ship due to television coverage of important sporting events like Olympics, World Cup football, UEFA Cup, Wimbledon, US Open, Australian Open, French Open, Formula 1 racing, World Athletic meet, and NBA Basketball championship, sports as an industry has grown manifold. Sports industry, in addition to products also involves endorsements, telecasting rights, and media advertisements.
Sports goods manufacturers
Adidas, Nike, Wilson, Puma, Slazenger, Stiga, Dunlop and Yonex are some of the internationally acclaimed sports equipment and apparel manufacturers.
1. Adidas – Adidas based in Herzogenaurach, Germany is an international giant manufacturing footwear, accessories, and apparels. TaylorMade-adidas golf company, Reebok sportswear, and Rockport are member companies of Adidas group. Adidas manufactured footwear includes basketball, running, golf, football, tennis, training and cycling shoes for men. Women footwear includes training, outdoor, tennis, and running shoes. Among accessories, Adidas manufactures footballs, shin guards, tennis wristbands, tennis caps, and workout and weekender bags. The apparels include shorts, jerseys, and training outfits. The company recorded revenue of US $ 15.6 billion in 2007.
2. Nike – Nike based near Beaverton in Oregon is a leading designer, distributor and marketer of sports equipments, accessories, apparel, and footwear. Converse Inc., distributor of athletic footwear, accessories, apparel; Umbro Ltd., a U.K. based soccer brand; Cole Hann, designer and distributor of luxury shoes, handbags, and accessories; and Hurley International, designer and distributor of youth apparel, accessories and footwear are subsidiaries of Nike Inc. This Fortune 500 company having an employee strength of over 30,000 earned a revenue of US $16 billion in 2007.
3. Puma – Based in Herzogenaurach, Germany, Puma designs, distributes and markets sports footwear, accessories, equipments, and apparels. Puma designs football, golf, running, motor sport, sailing, and cricket accessories and footwear. Puma in 2006 earned a revenue of US $3.512 billion
Important sporting events
Summer Olympics is a major revenue generator in the world of sport. 2008 Beijing Olympics involving over 11,000 athletes from 204 nations competing in 302 events, generated a revenue of US $42 billion.
2006 FIFA World Cup played in Germany among 32 national football teams reached out to nearly 27 billion viewers worldwide. In 2006 World Cup, FIFA earned US $2.42 billion from marketing and US $892.43 million from sponsorship.
United States Tennis Association (USTA) earned US $220 million from 2007 US Open tennis tournament.
With increase in viewer ship due to television coverage of important sporting events like Olympics, World Cup football, UEFA Cup, Wimbledon, US Open, Australian Open, French Open, Formula 1 racing, World Athletic meet, and NBA Basketball championship, sports as an industry has grown manifold. Sports industry, in addition to products also involves endorsements, telecasting rights, and media advertisements.
Sports goods manufacturers
Adidas, Nike, Wilson, Puma, Slazenger, Stiga, Dunlop and Yonex are some of the internationally acclaimed sports equipment and apparel manufacturers.
1. Adidas – Adidas based in Herzogenaurach, Germany is an international giant manufacturing footwear, accessories, and apparels. TaylorMade-adidas golf company, Reebok sportswear, and Rockport are member companies of Adidas group. Adidas manufactured footwear includes basketball, running, golf, football, tennis, training and cycling shoes for men. Women footwear includes training, outdoor, tennis, and running shoes. Among accessories, Adidas manufactures footballs, shin guards, tennis wristbands, tennis caps, and workout and weekender bags. The apparels include shorts, jerseys, and training outfits. The company recorded revenue of US $ 15.6 billion in 2007.
2. Nike – Nike based near Beaverton in Oregon is a leading designer, distributor and marketer of sports equipments, accessories, apparel, and footwear. Converse Inc., distributor of athletic footwear, accessories, apparel; Umbro Ltd., a U.K. based soccer brand; Cole Hann, designer and distributor of luxury shoes, handbags, and accessories; and Hurley International, designer and distributor of youth apparel, accessories and footwear are subsidiaries of Nike Inc. This Fortune 500 company having an employee strength of over 30,000 earned a revenue of US $16 billion in 2007.
3. Puma – Based in Herzogenaurach, Germany, Puma designs, distributes and markets sports footwear, accessories, equipments, and apparels. Puma designs football, golf, running, motor sport, sailing, and cricket accessories and footwear. Puma in 2006 earned a revenue of US $3.512 billion
Important sporting events
Summer Olympics is a major revenue generator in the world of sport. 2008 Beijing Olympics involving over 11,000 athletes from 204 nations competing in 302 events, generated a revenue of US $42 billion.
2006 FIFA World Cup played in Germany among 32 national football teams reached out to nearly 27 billion viewers worldwide. In 2006 World Cup, FIFA earned US $2.42 billion from marketing and US $892.43 million from sponsorship.
United States Tennis Association (USTA) earned US $220 million from 2007 US Open tennis tournament.
Textile Industry
The history of development in World Textile industry was started in Britain as the spinning and weaving machines were invented in that country.
High production of wool, cotton and silk over the world has boosted the industry in recent years. Though the industry was started in UK, still in 19th Century the textile production passed to Europe and North America after mechanization process in those areas. From time to time Japan, China and India took part in industrializing their economies and concentrated more in that sector.
Japan, India, Hong Kong and China became leading producers due to their cheap labour supply, which is an important factor for the industry.
Global Textile Scenario
According to statistics, the global textile market possesses a worth of more than $400 billions presently. In a more globalize environment, the industry has faced high competition as well as opportunities. It is predicted that Global textile production will grow by 25 percent between 2002 and 2010 and Asian region will largely contribute in this regard.
WTO In Textile Industry
The (WTO) has taken so many steps for uplifting this sector. In the year 1995, WTO had renewed its MFA and adopted Agreement on Textiles and Clothing (ATC), which states that all quotas on textile and clothing will be removed among WTO member countries.
However the level of exports in textiles from developing countries is increasing even if in the presence of high tariffs and quantitative restrictions by economically developed countries.
Moreover the role of multifunctional textiles, eco-textiles, e-textiles and customized textiles are considered as the future of textile industry.
High production of wool, cotton and silk over the world has boosted the industry in recent years. Though the industry was started in UK, still in 19th Century the textile production passed to Europe and North America after mechanization process in those areas. From time to time Japan, China and India took part in industrializing their economies and concentrated more in that sector.
Japan, India, Hong Kong and China became leading producers due to their cheap labour supply, which is an important factor for the industry.
Global Textile Scenario
According to statistics, the global textile market possesses a worth of more than $400 billions presently. In a more globalize environment, the industry has faced high competition as well as opportunities. It is predicted that Global textile production will grow by 25 percent between 2002 and 2010 and Asian region will largely contribute in this regard.
WTO In Textile Industry
The (WTO) has taken so many steps for uplifting this sector. In the year 1995, WTO had renewed its MFA and adopted Agreement on Textiles and Clothing (ATC), which states that all quotas on textile and clothing will be removed among WTO member countries.
However the level of exports in textiles from developing countries is increasing even if in the presence of high tariffs and quantitative restrictions by economically developed countries.
Moreover the role of multifunctional textiles, eco-textiles, e-textiles and customized textiles are considered as the future of textile industry.
Telecommunications Industry
Telecommunications industry deals with the activities and services of electronic systems for transmitting messages through cables, telephone, radio or television.
Components and factors responsible behind the growth of telecommunications industry
Two major factors responsible for the growth of telecommunications industry are use of modern technology and market competition. One of the products of modern technologies is optical fibers, which are being used as a medium of data transmission instead of using coaxial or twisted pair cables. Optical fibers can carry a high volume of data and are easier to maintain and install. Use of communication satellites make this telecommunications industry a booming industry.
The use of mobile network has a crucial role behind the growth of an improved telecommunications industry. Leading companies are showing their interest to invest in this telecommunications industry.
Telecommunications industry is going to be a digitized one. Use of ISDN (Inter Services Digital Network) makes this telecommunication industry a total digitalized system and eventually enhanced the speed and quality of digital communication.
The introduction of these advanced technologies makes the telecommunications industry a competitive one, where a number of multinational companies have shown their interest to invest in this industry and consequently the prices are reduced, the quality is also improved. During the period of 1990, the telecommunication industry showed a speedy growth in terms of investment and eventually increased the competition. The competition between the companies led to the decline of revenues.
Employment opportunities in telecommunications industry
Telecommunication industry has created immense employment opportunities. Most of the employees in this industry are engaged in large establishments, although there are some small establishments, where a large number of small contractors are involved. Fifty five percent of all workers are engaged in office and administrative support occupations. The other occupations of this industry relate to installation, maintenance, and repair .
Components and factors responsible behind the growth of telecommunications industry
Two major factors responsible for the growth of telecommunications industry are use of modern technology and market competition. One of the products of modern technologies is optical fibers, which are being used as a medium of data transmission instead of using coaxial or twisted pair cables. Optical fibers can carry a high volume of data and are easier to maintain and install. Use of communication satellites make this telecommunications industry a booming industry.
The use of mobile network has a crucial role behind the growth of an improved telecommunications industry. Leading companies are showing their interest to invest in this telecommunications industry.
Telecommunications industry is going to be a digitized one. Use of ISDN (Inter Services Digital Network) makes this telecommunication industry a total digitalized system and eventually enhanced the speed and quality of digital communication.
The introduction of these advanced technologies makes the telecommunications industry a competitive one, where a number of multinational companies have shown their interest to invest in this industry and consequently the prices are reduced, the quality is also improved. During the period of 1990, the telecommunication industry showed a speedy growth in terms of investment and eventually increased the competition. The competition between the companies led to the decline of revenues.
Employment opportunities in telecommunications industry
Telecommunication industry has created immense employment opportunities. Most of the employees in this industry are engaged in large establishments, although there are some small establishments, where a large number of small contractors are involved. Fifty five percent of all workers are engaged in office and administrative support occupations. The other occupations of this industry relate to installation, maintenance, and repair .
Utilities Industry
Utilities industry includes companies that offer services like electric power, steam supply, natural gas, and sewage removal.
Utilities industry is one of the rapidly evolving sectors. Earlier focus used to be on integration of ownership of functions like production, distribution, and customers. But companies in order to gain competitive advantage have started focusing on singular aspects of business. Regulators also have had a role to play in this.
Electric power industry in US
Electric industry in US has served as a regulated monopoly. In return customers have been assured of reliable energy supply. Investors are almost guaranteed of returns on their investment. But rising prices necessitated deregulation of this sector.
Deregulation has increased competition between utilities. Increased competition has led to increase in efficiencies. Prices are also being either held down or reduced in order to attract customers.
Sewage removal
Sewage removal sector includes services like collection, treatment, and disposal of waste. Removal of sewage is done through sewer systems and sewage treatment facilities.
Employment
As per US Bureau of Labor Statistics, utilities sector accounted for about 0.5 percent of total employment. Of all business establishments, utilities sector accounted for about 0.2 percent. Average annual employment with utilities sector has gone down from about 689,300 in 1994 to 580,800 in 2003.
Earnings
In 2003, average hourly earnings of utilities sector workers was estimated to be around $24.76 for non-supervisory positions. Average weekly hours in 2003 was around 41.1 in 2003.
Challenges
Utilities industry faces a lot of challenges. It has to address sustainability and climate change issues. Transparency is required at all levels to achieve sustainability. Climate changes have posed a difficult challenge to utilities industry where environmental, remediation, and health responsibilities have to be taken into consideration. For proper functioning of utilities sector, compliance with regulatory and reporting requirements is necessary. It will help in improving performance and increase operational efficiency. Other challenges faced by utilities industry include management of financial risk, consolidation, and securing supply.
Utilities industry is one of the rapidly evolving sectors. Earlier focus used to be on integration of ownership of functions like production, distribution, and customers. But companies in order to gain competitive advantage have started focusing on singular aspects of business. Regulators also have had a role to play in this.
Electric power industry in US
Electric industry in US has served as a regulated monopoly. In return customers have been assured of reliable energy supply. Investors are almost guaranteed of returns on their investment. But rising prices necessitated deregulation of this sector.
Deregulation has increased competition between utilities. Increased competition has led to increase in efficiencies. Prices are also being either held down or reduced in order to attract customers.
Sewage removal
Sewage removal sector includes services like collection, treatment, and disposal of waste. Removal of sewage is done through sewer systems and sewage treatment facilities.
Employment
As per US Bureau of Labor Statistics, utilities sector accounted for about 0.5 percent of total employment. Of all business establishments, utilities sector accounted for about 0.2 percent. Average annual employment with utilities sector has gone down from about 689,300 in 1994 to 580,800 in 2003.
Earnings
In 2003, average hourly earnings of utilities sector workers was estimated to be around $24.76 for non-supervisory positions. Average weekly hours in 2003 was around 41.1 in 2003.
Challenges
Utilities industry faces a lot of challenges. It has to address sustainability and climate change issues. Transparency is required at all levels to achieve sustainability. Climate changes have posed a difficult challenge to utilities industry where environmental, remediation, and health responsibilities have to be taken into consideration. For proper functioning of utilities sector, compliance with regulatory and reporting requirements is necessary. It will help in improving performance and increase operational efficiency. Other challenges faced by utilities industry include management of financial risk, consolidation, and securing supply.
Tourism Industry
India’s tourism industry is experiencing a strong period of growth, driven by the burgeoning Indian middle class, growth in high spending foreign tourists, and coordinated government campaigns to promote ‘Incredible India’.
The tourism industry in India is substantial and vibrant, and the country is fast becoming a major global destination. India’s travel and tourism industry is one of them most profitable industries in the country, and also credited with contributing a substantial amount of foreign exchange. This is illustrated by the fact that during 2006, four million tourists visited India and spent US $8.9 billion.
Several reasons are cited for the growth and prosperity of India’s travel and tourism industry. Economic growth has added millions annually to the ranks of India’s middle class, a group that is driving domestic tourism growth. Disposable income in India has grown by 10.11% annually from 2001-2006, and much of that is being spent on travel.
Thanks in part to its booming IT and outsourcing industry a growing number of business trips are made by foreigners to India, who will often add a weekend break or longer holiday to their trip. Foreign tourists spend more in India than almost any other country worldwide. Tourist arrivals are projected to increase by over 22% per year through till 2010, with a 33% increase in foreign exchange earnings recorded in 2004.
The Tourism Ministry has also played an important role in the development of the industry, initiating advertising campaigns such as the 'Incredible India' campaign, which promoted India’s culture and tourist attractions in a fresh and memorable way. The campaign helped create a colorful image of India in the minds of consumers all over the world, and has directly led to an increase in the interest among tourists.
The tourism industry has helped growth in other sectors as diverse as horticulture, handicrafts, agriculture, construction and even poultry.
Both directly and indirectly, increased tourism in India has created jobs in a variety of related sectors. The numbers tell the story: almost 20 million people are now working in the India’s tourism industry.
India’s governmental bodies have also made a significant impact in tourism by requiring that each and every state of India have a corporation to administer support issues related to tourism.
A new growth sector is medical tourism. It is currently growing at around 30% per annum. Medical tourist arrivals are expected to reach one million soon.
The tourism industry of India is based on certain core nationalistic ideals and standards which are: Swaagat or welcome, Sahyog or cooperation, Soochanaa or information, Sanrachanaa or infrastructure, Suvidha or facilitation, Safaai or cleanliness and Surakshaa or security.
The following table provides the major tourist attractions in India by state:
Tourist AttractionStateCharminarHyderabad, Andhra PradeshKaziranga National ParkAssamQutub MinarDelhiMangueshi TempleGoaShimlaHimachal PradeshDal LakeJammu and KashmirJog FallsShimoga District, KarnatakaKovalam BeachKeralaAmarkantakMadhya PradeshAjantaMaharashtraPuriOrissaGolden TempleAmritsar, PunjabJaipurRajasthanChennaiTamil NaduBadrinath TempleUttarakhandVaranasiUttar PradeshVictoria MemorialKolkata, Bengal
The tourism industry in India is substantial and vibrant, and the country is fast becoming a major global destination. India’s travel and tourism industry is one of them most profitable industries in the country, and also credited with contributing a substantial amount of foreign exchange. This is illustrated by the fact that during 2006, four million tourists visited India and spent US $8.9 billion.
Several reasons are cited for the growth and prosperity of India’s travel and tourism industry. Economic growth has added millions annually to the ranks of India’s middle class, a group that is driving domestic tourism growth. Disposable income in India has grown by 10.11% annually from 2001-2006, and much of that is being spent on travel.
Thanks in part to its booming IT and outsourcing industry a growing number of business trips are made by foreigners to India, who will often add a weekend break or longer holiday to their trip. Foreign tourists spend more in India than almost any other country worldwide. Tourist arrivals are projected to increase by over 22% per year through till 2010, with a 33% increase in foreign exchange earnings recorded in 2004.
The Tourism Ministry has also played an important role in the development of the industry, initiating advertising campaigns such as the 'Incredible India' campaign, which promoted India’s culture and tourist attractions in a fresh and memorable way. The campaign helped create a colorful image of India in the minds of consumers all over the world, and has directly led to an increase in the interest among tourists.
The tourism industry has helped growth in other sectors as diverse as horticulture, handicrafts, agriculture, construction and even poultry.
Both directly and indirectly, increased tourism in India has created jobs in a variety of related sectors. The numbers tell the story: almost 20 million people are now working in the India’s tourism industry.
India’s governmental bodies have also made a significant impact in tourism by requiring that each and every state of India have a corporation to administer support issues related to tourism.
A new growth sector is medical tourism. It is currently growing at around 30% per annum. Medical tourist arrivals are expected to reach one million soon.
The tourism industry of India is based on certain core nationalistic ideals and standards which are: Swaagat or welcome, Sahyog or cooperation, Soochanaa or information, Sanrachanaa or infrastructure, Suvidha or facilitation, Safaai or cleanliness and Surakshaa or security.
The following table provides the major tourist attractions in India by state:
Tourist AttractionStateCharminarHyderabad, Andhra PradeshKaziranga National ParkAssamQutub MinarDelhiMangueshi TempleGoaShimlaHimachal PradeshDal LakeJammu and KashmirJog FallsShimoga District, KarnatakaKovalam BeachKeralaAmarkantakMadhya PradeshAjantaMaharashtraPuriOrissaGolden TempleAmritsar, PunjabJaipurRajasthanChennaiTamil NaduBadrinath TempleUttarakhandVaranasiUttar PradeshVictoria MemorialKolkata, Bengal
World Steel Industry
World Steel Industry : Steel, the recycled material is one of the top products in the manufacturing sector of the world.
The Asian countries have their respective dominance in the production of the steel all over the world. India being one among the fastest growing economies of the world has been considered as one of the potential global steel hub internationally. Over the years, particularly after the adoption of the liberalization policies all over the world, the World steel industry is growing very fast.
Steel Industry is a booming industry in the whole world. The increasing demand for it was mainly generated by the development projects that has been going on along the world, especially the infrastructural works and real estate projects that has been on the boom around the developing countries. Steel Industry was till recently dominated by the United Sates of America but this scenario is changing with a rapid pace with the Indian steel companies on an acquisition spree. In the last one year, the world has seen two big M&A deals to take place :-
* The Mittal Steel, listed in Holland, has acquired the world's largest steel company called Arcelor Steel to become the world's largest producer of Steel named Arcelor-Mittal.
* Tata Steel of India or TISCO (as listed in BSE) has acquired the world's fifth largest steel company, Corus, with the highest ever stock price.
It has been observed that Steel Industry has grown tremendously in the last one and a half decade with a strong financial condition. The increasing needs of steel by the developing countries for its infrastructural projects has pushed the companies in this industry near their operative capacity.
The most significant growth that can be seen in the Steel Industry has been observed during the period 1960 to 1974 when the consumption of steel around the whole world doubled. Between these years, the rate at which the Steel Industry grew has been recorded to be 5.5 %. This roaring market saw a phase of deceleration from the year 1975 which continued till 1982. After this period, the continuous fall slowed down and again started its upward movement from the early 1990s.
Steel Industry is becoming more and more competitive with every passing day. During the period 1960s to late 1980s, the steel market used to be dominated by OECD (Organization for Economic Cooperation and Development) countries. But with the fast emergence of developing countries like China, India and South Korea in this sector has led to slipping market share of OECD countries. The balance of trade line is also tilting towards these countries.
The main demand creators for Steel Industry are Automobile industry, Construction Industry, Infrastructure Industry, Oil and Gas Industry, and Container Industry.
New innovations are also taking place in Steel Industry for cost minimization and at the same time production maximization. Some of the cutting edge technologies that are being implemented in this industry are thin-slab casting, making of steel through the use of electric furnace, vacuum degassing, etc.
The Steel Industry has enough potential to grow at a much accelerated pace in the coming future due to the continuity of the developmental projects around the world. This industry is at present working near its productive capacity which needs to be increased with increasing demand.
The Asian countries have their respective dominance in the production of the steel all over the world. India being one among the fastest growing economies of the world has been considered as one of the potential global steel hub internationally. Over the years, particularly after the adoption of the liberalization policies all over the world, the World steel industry is growing very fast.
Steel Industry is a booming industry in the whole world. The increasing demand for it was mainly generated by the development projects that has been going on along the world, especially the infrastructural works and real estate projects that has been on the boom around the developing countries. Steel Industry was till recently dominated by the United Sates of America but this scenario is changing with a rapid pace with the Indian steel companies on an acquisition spree. In the last one year, the world has seen two big M&A deals to take place :-
* The Mittal Steel, listed in Holland, has acquired the world's largest steel company called Arcelor Steel to become the world's largest producer of Steel named Arcelor-Mittal.
* Tata Steel of India or TISCO (as listed in BSE) has acquired the world's fifth largest steel company, Corus, with the highest ever stock price.
It has been observed that Steel Industry has grown tremendously in the last one and a half decade with a strong financial condition. The increasing needs of steel by the developing countries for its infrastructural projects has pushed the companies in this industry near their operative capacity.
The most significant growth that can be seen in the Steel Industry has been observed during the period 1960 to 1974 when the consumption of steel around the whole world doubled. Between these years, the rate at which the Steel Industry grew has been recorded to be 5.5 %. This roaring market saw a phase of deceleration from the year 1975 which continued till 1982. After this period, the continuous fall slowed down and again started its upward movement from the early 1990s.
Steel Industry is becoming more and more competitive with every passing day. During the period 1960s to late 1980s, the steel market used to be dominated by OECD (Organization for Economic Cooperation and Development) countries. But with the fast emergence of developing countries like China, India and South Korea in this sector has led to slipping market share of OECD countries. The balance of trade line is also tilting towards these countries.
The main demand creators for Steel Industry are Automobile industry, Construction Industry, Infrastructure Industry, Oil and Gas Industry, and Container Industry.
New innovations are also taking place in Steel Industry for cost minimization and at the same time production maximization. Some of the cutting edge technologies that are being implemented in this industry are thin-slab casting, making of steel through the use of electric furnace, vacuum degassing, etc.
The Steel Industry has enough potential to grow at a much accelerated pace in the coming future due to the continuity of the developmental projects around the world. This industry is at present working near its productive capacity which needs to be increased with increasing demand.
Monday 10 January 2011
US Trade
U.S. foreign trade and global economic policies
have changed direction dramatically during the several years that the United States has been a country. In the early days of the nation's history, government and business mostly concentrated on developing the domestic economy irrespective of what went on abroad. But since the Great Depression of the 1930s and World War II, the country generally has sought to reduce trade barriers and coordinate the world economic system.
This commitment to free trade has both economic and political roots; the United States increasingly has come to see open trade as a means not only of advancing its own economic interests but also as a key to building peaceful relations among nations.
Average annual growth of population has been 1.1% from 1997 to 2003, which is still higher than other high-income countries’ figure of 0.6 %. The US economy has an edge over other rich countries as indicated by its labour force growth rate of 1.3% (1997-03), while other high income countries have less than 1% growth in workforce over these years.
However, since the end of the 20th century, a growing trade deficit has brought some ambivalence in the minds of American people about trade liberalization. The United States had experienced trade surpluses during most of the years following World War II. But oil price shocks in 1973-1974 and 1979-1980 and the global recession that followed the second oil price shock caused international trade to stagnate.
At the same time, the United States began to feel shifts in international competitiveness. By the late 1970s, many countries, particularly newly industrializing countries, were growing increasingly competitive in international export markets. South Korea, Hong Kong, Mexico, and Brazil, among others, had become efficient producers of steel, textiles, footwear, auto parts, and many other consumer products. The 2003 estimates show a current account deficit of $ 541,834 million.
CHALLENGES IN THE 21st CENTURY
Recently, the IMF has described the US current account deficit as unsustainable . The International Monetary Fund has said it could have a significant adverse effect on interest rates and global capital markets.
The American economy is observing a record-low household saving rate and a large federal fiscal deficit. Thus it is essential to support the adjustment by strong US national saving to avoid a burden falling on investment and growth, both in America and abroad.
Like many countries in the world, the United States too had been undergoing profound economic changes. A wave of technological innovations in computing, telecommunications, and the biological sciences were profoundly affecting how Americans work and play. At the same time, historical factors like collapse of communism in the Soviet Union and Eastern Europe, the growing economic strength of Western Europe, and more recently the emergence of powerful economies in Asia, expanding economic opportunities in Latin America and Africa, have had affected US economy.
The increased global integration of business and finance posed new opportunities as well as risks. All of these changes were leading people in the US to re-examine everything from how they organize their workplaces to the role of government. Perhaps as a result, many workers, while content with their current status, look to the future with uncertainty.
The US economy though a lot better than many economies, face some other long-term challenges. Notwithstanding the fact that many Americans have achieved economic security and some have accumulated great wealth, significant numbers -- especially unmarried mothers and their children -- continue to live in poverty. Disparities in wealth, while not as great as in some other countries, can be seen as still larger than in many. Environmental quality remains a major concern. Substantial numbers of Americans lacked health insurance. And global economic integration has brought some dislocation along with many advantages. In particular, traditional manufacturing industries have suffered setbacks, and the nation has been facing a large and seemingly irreversible deficit in its trade with other countries.
The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. Moderate recovery took place in 2002, with the GDP growth rate rising to 2.45%. A major short-term problem in first half 2002 was a sharp decline in the stock market, fueled in part by the exposure of dubious accounting practices in some major corporations.
The Iraq war in March/April 2003 shifted resources to military industries and introduced uncertainties about investment and employment in other sectors of the economy. Though, the United States will continue to be the world leader for many more years, it will have to resolve some long-term problems in order to sustain the growth. These include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade deficits, and stagnation of family income in the lower economic groups US Trade Figures
have changed direction dramatically during the several years that the United States has been a country. In the early days of the nation's history, government and business mostly concentrated on developing the domestic economy irrespective of what went on abroad. But since the Great Depression of the 1930s and World War II, the country generally has sought to reduce trade barriers and coordinate the world economic system.
This commitment to free trade has both economic and political roots; the United States increasingly has come to see open trade as a means not only of advancing its own economic interests but also as a key to building peaceful relations among nations.
Average annual growth of population has been 1.1% from 1997 to 2003, which is still higher than other high-income countries’ figure of 0.6 %. The US economy has an edge over other rich countries as indicated by its labour force growth rate of 1.3% (1997-03), while other high income countries have less than 1% growth in workforce over these years.
However, since the end of the 20th century, a growing trade deficit has brought some ambivalence in the minds of American people about trade liberalization. The United States had experienced trade surpluses during most of the years following World War II. But oil price shocks in 1973-1974 and 1979-1980 and the global recession that followed the second oil price shock caused international trade to stagnate.
At the same time, the United States began to feel shifts in international competitiveness. By the late 1970s, many countries, particularly newly industrializing countries, were growing increasingly competitive in international export markets. South Korea, Hong Kong, Mexico, and Brazil, among others, had become efficient producers of steel, textiles, footwear, auto parts, and many other consumer products. The 2003 estimates show a current account deficit of $ 541,834 million.
CHALLENGES IN THE 21st CENTURY
Recently, the IMF has described the US current account deficit as unsustainable . The International Monetary Fund has said it could have a significant adverse effect on interest rates and global capital markets.
The American economy is observing a record-low household saving rate and a large federal fiscal deficit. Thus it is essential to support the adjustment by strong US national saving to avoid a burden falling on investment and growth, both in America and abroad.
Like many countries in the world, the United States too had been undergoing profound economic changes. A wave of technological innovations in computing, telecommunications, and the biological sciences were profoundly affecting how Americans work and play. At the same time, historical factors like collapse of communism in the Soviet Union and Eastern Europe, the growing economic strength of Western Europe, and more recently the emergence of powerful economies in Asia, expanding economic opportunities in Latin America and Africa, have had affected US economy.
The increased global integration of business and finance posed new opportunities as well as risks. All of these changes were leading people in the US to re-examine everything from how they organize their workplaces to the role of government. Perhaps as a result, many workers, while content with their current status, look to the future with uncertainty.
The US economy though a lot better than many economies, face some other long-term challenges. Notwithstanding the fact that many Americans have achieved economic security and some have accumulated great wealth, significant numbers -- especially unmarried mothers and their children -- continue to live in poverty. Disparities in wealth, while not as great as in some other countries, can be seen as still larger than in many. Environmental quality remains a major concern. Substantial numbers of Americans lacked health insurance. And global economic integration has brought some dislocation along with many advantages. In particular, traditional manufacturing industries have suffered setbacks, and the nation has been facing a large and seemingly irreversible deficit in its trade with other countries.
The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. Moderate recovery took place in 2002, with the GDP growth rate rising to 2.45%. A major short-term problem in first half 2002 was a sharp decline in the stock market, fueled in part by the exposure of dubious accounting practices in some major corporations.
The Iraq war in March/April 2003 shifted resources to military industries and introduced uncertainties about investment and employment in other sectors of the economy. Though, the United States will continue to be the world leader for many more years, it will have to resolve some long-term problems in order to sustain the growth. These include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade deficits, and stagnation of family income in the lower economic groups US Trade Figures
Vietnam Trade, Exports and Imports
As per the General Statistics Office (GSO) of Vietnam, the 2009 export turnovers were estimated to be US$56.6 billion, reflecting a drop of 9.7% from 2008. The import turnovers of 2009 were anticipated to be US$68.8 billion, which showed a drop by 14.7% from 2008. Although the decreased import turnovers were higher than export turnovers, the 2009 trade deficits was estimated to be US$12.2 billion, reduced by 32.1% reported in 2008 and equaling 21.6% of the total export turnovers of 2009.
FDI companies contributed 36% of the total imports in 2009, while the rest 64% was made up by the local companies. The total export results of the same year read 47% earnings by FDI companies (excluding crude oil) and 53% by local companies.
Vietnam Trade: Exports and Imports
Vietnam's main exports include:
*
crude oil
*
textiles and garment
*
rice
*
coffee
*
rubber
*
coal
*
aquaculture
*
processed forest products
Although agricultural produce crowds the export item list, this will soon transform as Vietnam increases its industrial base. The 2009 report states 11% earnings on crude oil, 7% on aquatic products, 7% footwear, 5% electronic equipment, 5% jewelry, 5% rice, 4% wooden products, 4% machinery, 3% coffee, 2% anthracite and 2% rubber.
Vietnam’s key import commodities include:
*
petroleum products
*
steel
*
fertilizer
*
electronics
*
machinery and equipment
The year 2009 saw Vietnam import rubber worth USD 90 million, US$400 million plastics, US$440 million machineries, USD 390 million electronic goods and USD 350 million steel, among others.
Vietnam Trade Partners
Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. Its trade with the Asian economies constitutes approximately 80 percent of its total trade. Before 1990, Vietnam's chief trading partners included socialist countries, especially the Soviet Union.
Major markets of Vietnam in the export business 2007 were:
*
Petrochemicals
*
Construction Industry
*
Cement Industry
*
Power Generation/Electricity
*
Food and beverage
*
Paper and Pulp
*
Plastic and Rubber
ASEAN
The Association of Southeast Asian Nations (ASEAN) includes countries, such as Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Vietnam had taken on the role of President of the ASEAN, beginning January 01, 2010. The country aims to utilize its term as the president to accelerate development of the ASEAN Community, strengthen regional solidarity and cooperation, and enhance Vietnam’s image at the international front.
FDI companies contributed 36% of the total imports in 2009, while the rest 64% was made up by the local companies. The total export results of the same year read 47% earnings by FDI companies (excluding crude oil) and 53% by local companies.
Vietnam Trade: Exports and Imports
Vietnam's main exports include:
*
crude oil
*
textiles and garment
*
rice
*
coffee
*
rubber
*
coal
*
aquaculture
*
processed forest products
Although agricultural produce crowds the export item list, this will soon transform as Vietnam increases its industrial base. The 2009 report states 11% earnings on crude oil, 7% on aquatic products, 7% footwear, 5% electronic equipment, 5% jewelry, 5% rice, 4% wooden products, 4% machinery, 3% coffee, 2% anthracite and 2% rubber.
Vietnam’s key import commodities include:
*
petroleum products
*
steel
*
fertilizer
*
electronics
*
machinery and equipment
The year 2009 saw Vietnam import rubber worth USD 90 million, US$400 million plastics, US$440 million machineries, USD 390 million electronic goods and USD 350 million steel, among others.
Vietnam Trade Partners
Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. Its trade with the Asian economies constitutes approximately 80 percent of its total trade. Before 1990, Vietnam's chief trading partners included socialist countries, especially the Soviet Union.
Major markets of Vietnam in the export business 2007 were:
*
Petrochemicals
*
Construction Industry
*
Cement Industry
*
Power Generation/Electricity
*
Food and beverage
*
Paper and Pulp
*
Plastic and Rubber
ASEAN
The Association of Southeast Asian Nations (ASEAN) includes countries, such as Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Vietnam had taken on the role of President of the ASEAN, beginning January 01, 2010. The country aims to utilize its term as the president to accelerate development of the ASEAN Community, strengthen regional solidarity and cooperation, and enhance Vietnam’s image at the international front.
Spain Trade, Exports and Imports
Spain’s trade plays a significant role in the nation’s economy, accounting for more than half of its GDP. The nation has, however, had a trade deficit persistently over the past few years, which stood at $77.5 billion in 2009, according to CIA reports. Spain’s weak trade scenario is attributable to several factors, predominantly the nation’s increasing reliance on imported petrol and decreased market competitiveness. Additionally, the steady decline of Spain exports is also attributed to the strength of the euro, since it was adopted by Spain for international trade, which has made Spanish exports more expensive.
Spain Trade, Exports and Imports: Overview
Spain’s top export and import partners are from the EU region. Key export commodities of the nation include motor vehicles, foodstuffs, medicines, machinery and pharmaceuticals. During 2009, Spain had net earnings of $215.7 billion from its exports. This represented a decline of $70.2 billion from the export earnings of 2008.
Spain’s imports were valued at $293.2 billion in 2009, which was a considerable decline from the 2008 level of $415.5 billion. The reason for such a wide gap between Spain’s exports and imports is the lack of resources in the nation, particularly oil. The nation imports a sizeable 1.813 million barrels of oil per day. Other vital import commodities of Spain are mechanical and electric machinery, and iron and steel.
Major trade partners of Spain and their share in its total trade, according to CIA reports for 2009, include:
Exports
Imports
France
18.3%
Germany
14.5%
Germany
10.6%
France
11.1%
Portugal
8.7%
Italy
7.4%
Italy
8%
China
6.2%
Spain Trade, Exports and Imports Agreements
Spain’s trade policy is similar to that of other nations of the European Union. The common weighted average tariff rate in the EU was 1.3% in 2008. The EU, however, has higher tariffs for manufacturing and agricultural products. The EU and Spanish trade policy also has several non-tariff barriers, particularly in the primary and secondary sectors, such as:
*
Subsidies and quotas
*
Import restrictions or bans on shipment of certain goods
*
Market access restrictions in certain services sectors
Other widespread issues with Spain’s trade are inconsistent customs and regulatory administration and stringent protection of intellectual property rights.
Spain Trade, Exports and Imports: Overview
Spain’s top export and import partners are from the EU region. Key export commodities of the nation include motor vehicles, foodstuffs, medicines, machinery and pharmaceuticals. During 2009, Spain had net earnings of $215.7 billion from its exports. This represented a decline of $70.2 billion from the export earnings of 2008.
Spain’s imports were valued at $293.2 billion in 2009, which was a considerable decline from the 2008 level of $415.5 billion. The reason for such a wide gap between Spain’s exports and imports is the lack of resources in the nation, particularly oil. The nation imports a sizeable 1.813 million barrels of oil per day. Other vital import commodities of Spain are mechanical and electric machinery, and iron and steel.
Major trade partners of Spain and their share in its total trade, according to CIA reports for 2009, include:
Exports
Imports
France
18.3%
Germany
14.5%
Germany
10.6%
France
11.1%
Portugal
8.7%
Italy
7.4%
Italy
8%
China
6.2%
Spain Trade, Exports and Imports Agreements
Spain’s trade policy is similar to that of other nations of the European Union. The common weighted average tariff rate in the EU was 1.3% in 2008. The EU, however, has higher tariffs for manufacturing and agricultural products. The EU and Spanish trade policy also has several non-tariff barriers, particularly in the primary and secondary sectors, such as:
*
Subsidies and quotas
*
Import restrictions or bans on shipment of certain goods
*
Market access restrictions in certain services sectors
Other widespread issues with Spain’s trade are inconsistent customs and regulatory administration and stringent protection of intellectual property rights.
The United Kingdom Import and Export
The UK Economy ranks sixth in the world in terms of export of commodities and services. The UK Economy does not lag far behind the US in terms of foreign investments. The expanding European Union as well as the large untapped markets in the developing countries are opening new avenues to earn huge financial gains and the overseas investment companies of UK are making rapid in roads into them.
A considerable amount of the food supplies necessary to meet the demands have to be imported from abroad. The UK Economy ranks fourth in the world in terms of volume of imports.
The main trading partners of UK in 2003 were European Union (more than 50%), US, Asia, Middle East, Australia Latin America and Africa.
Making improvements in the quality of life of its people, could also be one of the future challenges for the nation, as other European countries like Norway, Sweden and Switzerland are ranked above UK in terms of HDI.
Foreign Trade
However, imports have exceeded exports and the current account deficit, as on September 2004, was estimated to be US $ 15.8 billion.
Balance of Payments
The trade deficit of the UK Economy in goods and services has reduced by a smaller margin as of the third quarter of 2006, a further reduction from the earlier decreased mark (as recorded at the end of the second quarter) showing a gradual decrease. As of recent, the deficit is somewhat flat.
Balance of Payment
CHALLENGES FACING UK
Government consumption has been restricted in recent years by strict controls on public spending, but is set to rise again over the next few years as the government strives to improve deficient public services. Given the deterioration in public finances owing to disappointing tax receipts, the government's main priority is to bring changes in its fiscal rules while making good its promises on public services such as health, education and transport.
The government's longer-term priority is to implement reforms to raise the country's productivity performance (which remains below the OECD average).
Also, the UK's relations with the EU could be headed for a crisis if, as seems likely, it fails to ratify the EU constitution in a referendum in 2006.
So far, there is little or no prospect of the UK holding a referendum to join economic and monetary union over the next five years The share of GDP accounted for by gross fixed investment, typically fluctuates in a range of 16-17% of GDP.
The very low level of public investment depresses the rate of overall fixed capital formation in the UK. Thus, this is one area, which needs to be corrected.
Making improvements in the quality of life of its people, could also be one of the future challenges for the nation, as other European countries like Norway, Sweden and Switzerland are ranked above UK in terms of HDI.
A considerable amount of the food supplies necessary to meet the demands have to be imported from abroad. The UK Economy ranks fourth in the world in terms of volume of imports.
The main trading partners of UK in 2003 were European Union (more than 50%), US, Asia, Middle East, Australia Latin America and Africa.
Making improvements in the quality of life of its people, could also be one of the future challenges for the nation, as other European countries like Norway, Sweden and Switzerland are ranked above UK in terms of HDI.
Foreign Trade
However, imports have exceeded exports and the current account deficit, as on September 2004, was estimated to be US $ 15.8 billion.
Balance of Payments
The trade deficit of the UK Economy in goods and services has reduced by a smaller margin as of the third quarter of 2006, a further reduction from the earlier decreased mark (as recorded at the end of the second quarter) showing a gradual decrease. As of recent, the deficit is somewhat flat.
Balance of Payment
CHALLENGES FACING UK
Government consumption has been restricted in recent years by strict controls on public spending, but is set to rise again over the next few years as the government strives to improve deficient public services. Given the deterioration in public finances owing to disappointing tax receipts, the government's main priority is to bring changes in its fiscal rules while making good its promises on public services such as health, education and transport.
The government's longer-term priority is to implement reforms to raise the country's productivity performance (which remains below the OECD average).
Also, the UK's relations with the EU could be headed for a crisis if, as seems likely, it fails to ratify the EU constitution in a referendum in 2006.
So far, there is little or no prospect of the UK holding a referendum to join economic and monetary union over the next five years The share of GDP accounted for by gross fixed investment, typically fluctuates in a range of 16-17% of GDP.
The very low level of public investment depresses the rate of overall fixed capital formation in the UK. Thus, this is one area, which needs to be corrected.
Making improvements in the quality of life of its people, could also be one of the future challenges for the nation, as other European countries like Norway, Sweden and Switzerland are ranked above UK in terms of HDI.
Russia Trade, Exports and Imports
Rich in natural resources, Russia boats the largest natural gas reserves in the world, the second largest coal reserves and the eighth largest oil reserves. All these resources constitute a major portion of Russia’s exports. In fact, 80% of Russia’s exports constitute oil, natural gas, metals and timber. In March 2010, a customs union was inaugurated to achieve the economic reintegration of Russia with Belarus and Kazakhstan. This union aims to boost trade among the Commonwealth of Independent States (CIS) nations, make the member nations more competitive and promote investment opportunities. The new tariff system is expected to unleash a flood of imports to Russia and its union partners. It would also strengthen Russia’s trade ties with Central Asia, the Baltic States and Central and Eastern European countries.
Meanwhile, Russia’s trade with India is expected to reach $10 billion in 2010, up from $8.4 billion in 2009. According to Russian trade experts, bilateral trade with India has risen over the past couple of years due to large volume of high-tech exports. Manufacturing, energy, steel production, construction and agriculture are expected to be the prime trading sectors for 2010 and beyond.
Russia’s trade relationship with Australia is expected to improve in 2010 after a rocky 2008 and 2009. Commodities like beef are expected to be the prime trading component between the two countries. Agricultural products also are expected to dominate much of Russia’s imports from Australia.
Russia Trade: Exports and Imports
Russia’s primary export commodities include petroleum and petroleum-based products, natural gas, wood, wood products, metals, chemicals, and defense equipment. The following chart shows Russia’s breakdown of exports in 2008-2009. All data are in USD billion.
Russia’s exports in 2008-2009
The next chart shows a breakdown of Russia’s primary export partners in 2008. All data are in percentages.
Russia’s exports partners in 2008
Russia’s primary import commodities include vehicles, industrial machinery, plastics, medicines, iron and steel, consumer goods, and meat. The following chart shows Russia’s breakdown of imports 2008-2009. All data are in USD billion.
Russia’s imports in 2008-2009
Russia’s currency is Ruble (RUB). The following chart shows RUB’s exchange rate per US dollar from 2005 to 2009.
RUB’s exchange rate per US dollar 2005-2009
Meanwhile, Russia’s trade with India is expected to reach $10 billion in 2010, up from $8.4 billion in 2009. According to Russian trade experts, bilateral trade with India has risen over the past couple of years due to large volume of high-tech exports. Manufacturing, energy, steel production, construction and agriculture are expected to be the prime trading sectors for 2010 and beyond.
Russia’s trade relationship with Australia is expected to improve in 2010 after a rocky 2008 and 2009. Commodities like beef are expected to be the prime trading component between the two countries. Agricultural products also are expected to dominate much of Russia’s imports from Australia.
Russia Trade: Exports and Imports
Russia’s primary export commodities include petroleum and petroleum-based products, natural gas, wood, wood products, metals, chemicals, and defense equipment. The following chart shows Russia’s breakdown of exports in 2008-2009. All data are in USD billion.
Russia’s exports in 2008-2009
The next chart shows a breakdown of Russia’s primary export partners in 2008. All data are in percentages.
Russia’s exports partners in 2008
Russia’s primary import commodities include vehicles, industrial machinery, plastics, medicines, iron and steel, consumer goods, and meat. The following chart shows Russia’s breakdown of imports 2008-2009. All data are in USD billion.
Russia’s imports in 2008-2009
Russia’s currency is Ruble (RUB). The following chart shows RUB’s exchange rate per US dollar from 2005 to 2009.
RUB’s exchange rate per US dollar 2005-2009
South Africa Trade, Exports and Imports
South Africa’s trade, exports and imports are heavily dependent on the nation’s natural resources and the government’s highly liberal trade incentives. South Africa recorded a trade surplus of R3.7 billion in December 2009, according to the South African Revenue Service (SARS). The surplus resulted from a decrease in imports of 13.73% and a decrease in exports of 1.08%. In December, exports amounted to R45.36 billion and imports amounted to R41.69 billion resulting in a surplus of R3.67 billion. The cumulative trade deficit for 2009 was R25.84 billion. Compared to a deficit of R71.63 in 2008, this represents a decline of R45.79 billion or 64%.
South Africa Trade: Exports
South Africa’s primary export commodities include gold, diamonds, platinum, other metals and minerals, machinery and equipment. South Africa’s exports were worth $67.93 billion in 2009, down from $86.12 billion in 2008. The following chart shows the distribution of South Africa’s export partners. All data are in percentages.
South Africa’s export partners 2009
South Africa: Imports
South Africa’s primary import commodities include machinery and equipment, chemicals, petroleum products, scientific instruments, and food materials. South Africa’s imports were worth $70.24 billion in 2009, down from $90.57 billion in 2008. The following chart shows the distribution of South Africa’s import partners. All data are in percentages.
South Africa’s import partners 2009
South Africa Trade: Exchange Rates
The following graph shows South Africa’s main currency, the Rand’s (ZAR) exchange rates in comparison to the US dollar during 2005-2009.
South Africa’s currency Rand’s (ZAR) exchange rates in comparison US$ 2005-2009
South Africa Trade: Exports
South Africa’s primary export commodities include gold, diamonds, platinum, other metals and minerals, machinery and equipment. South Africa’s exports were worth $67.93 billion in 2009, down from $86.12 billion in 2008. The following chart shows the distribution of South Africa’s export partners. All data are in percentages.
South Africa’s export partners 2009
South Africa: Imports
South Africa’s primary import commodities include machinery and equipment, chemicals, petroleum products, scientific instruments, and food materials. South Africa’s imports were worth $70.24 billion in 2009, down from $90.57 billion in 2008. The following chart shows the distribution of South Africa’s import partners. All data are in percentages.
South Africa’s import partners 2009
South Africa Trade: Exchange Rates
The following graph shows South Africa’s main currency, the Rand’s (ZAR) exchange rates in comparison to the US dollar during 2005-2009.
South Africa’s currency Rand’s (ZAR) exchange rates in comparison US$ 2005-2009
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