this ppt underlines the main hurdles to emerging markets and less developed countries.especially students who r luking for poilty and their insights into it
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
International trade is distorted by countries applying tariff and non tariff trade barriers.
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Its about economics reforms that were introduced in 1991.
why such reforms were needed ?
what was situation at that time ?
what were the achievement and limitations of economic reforms ?
Import Substitution in India: Issues, Challenges and PromotionAakriti Agarwal
Explains the concept of Import Substitution, looks into the top imports of India, namely- Oil, Gold, Electronics and Machinery and tries to suggest methods of import substitution for the same.
A good slide on export vs import it will help you more to understand about export vs import. just look at this slide and you automatically see how worthy this slides are . Thank you
this ppt underlines the main hurdles to emerging markets and less developed countries.especially students who r luking for poilty and their insights into it
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
Its about economics reforms that were introduced in 1991.
why such reforms were needed ?
what was situation at that time ?
what were the achievement and limitations of economic reforms ?
Import Substitution in India: Issues, Challenges and PromotionAakriti Agarwal
Explains the concept of Import Substitution, looks into the top imports of India, namely- Oil, Gold, Electronics and Machinery and tries to suggest methods of import substitution for the same.
A good slide on export vs import it will help you more to understand about export vs import. just look at this slide and you automatically see how worthy this slides are . Thank you
This class was for a paper I wrote for my International Trade Law class. My conclusions on the dispute, as far as I am aware, have still not been resolved by the WTO.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
There is an urgent need for policy makers to adopt a cautious perspective when dealing with the recent revival of protectionism. The changing policy context of global competition requires that emphasis be placed on facilitating broad-based innovation. This is in sharp contrast to the current and past industrial policies that were based on import substitution and sector-picking. This paper briefly outlines Pakistan’s experience with industrial policy over the past 6 decades, and shows how protectionist industrial and trade policy regimes are ineffective with respect to equipping Pakistan to compete globally. The paper also outlines global best practices with reference to designing an enabling industrial policy and suggests policy reforms that are appropriate in the political and global context of Pakistan. There also exist contrary views about the scope and composition of industrial policy even within the government functionaries. There is a dire need for a shared vision and deeper consensus building. Thus this paper aims to highlight the radical contrast in perspectives that exists between the current policy of the ministry of industries and a policy conducive to a prosperous Pakistan.
Dr. Alejandro Diaz-Bautista Economic Policy Import Substitution Dependency Th...Economist
Dependency theory and the import substitution period.
Alejandro Díaz-Bautista, Ph.D.
adiazbau@hotmail.com
Professor of Economics and Researcher at COLEF
Visiting Research Fellow and Guest Scholar 2008, Center for U.S.-Mexican Studies, University of California San Diego (UCSD).
Graduate School of International Relations & Pacific Studies IR/PS. University of California, San Diego.
Moving from Inward-Looking and State-led Development Strategy to World market - Oriented Strategy
1923-2014
A Case Study for Turkey
Bahri Yilmaz
EU Jean Monnet Professor and Professor in Economics,
Sabanci University, Istanbul
Economic Freedom of the Arab World Conference, Amman, November 18-19, 2014
Chapter 1 How do you define emerging markets What are some of t.docxtidwellveronique
Chapter 1
How do you define emerging markets? What are some of the common characteristics?
Emerging markets are those markets in a transition phase from developing to developed markets due to rapid growth and industrialization. Hence, markets which have (a) started an economic reform process aimed at alleviating problems, for example, of poverty, poor infrastructure and overpopulation; (b) achieved a steady growth in gross national product (GNP) per capita; (c) increased integration in the global economy; may truly be called emerging economies.
In defining emerging markets, large populations, rapid growth in GDP as well as increased contribution to world trade can be identified. Increased contribution to the world economy can be observed in increased exports, imports, inward and outward foreign investments. Such markets are often associated by rapidly growing populations and younger populations.
Such markets are also identified by progressive economic reforms and expectations of accelerated economic expansion. High growth rates and industrialization also lead to urbanization in such markets. In parallel, income levels are often increasing rapidly.
Even though emerging markets are very different from each other in terms of culture, political and economic characteristics, market structures and demographic structures, some general trends can be identified in order to understand the rise of such markets, as well as opportunities and challenges presented by these markets.
What are some of the reasons for increased importance of emerging markets in the global economy?
Traditionally, the emerging market environment was characterized by protected domestic firms, high tariffs, weak institutions, conglomerates and business groups, and a turbulent climate. Towards the end of the twentieth century, emerging markets started to go through structural reforms in an attempt to create stability and growth. Due to such reforms, many emerging markets have stabilized their economies and started growing rapidly. As emerging markets adopt a relatively open approach to world trade, they are able to integrate with the global economy.
Increased contribution of emerging markets to world trade is one of the reasons which has led to the emphasis of emerging markets in the global economy. Many of such markets have become major exporters and the interdependency among developed and emerging markets have increased.
Liberalization has also augmented to the focus on emerging markets in the global economy as the markets present major opportunities for foreign investment. Economic growth rates of emerging markets are higher than those of developed economies. Hence, such markets often present better prospects in terms of planning future investments. In parallel, policy reforms in these markets leading to improved fiscal and monetary policies, as well as stronger financial markets, have reduced volatility significantly. Hence, the rise of such countries as potential ...
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
1. 1
Import
The term import is derived from the conceptual meaning as to bring in the goods and services into the
port of a country. The buyer of such goods and services is referred to an "importer" who is based in
the country of import whereas the overseas based seller is referred to as an "exporter". Thus an import
is any good (e.g. a commodity) or service brought in from one country to another country in a
legitimate fashion, typically for use in trade. It is a good that is brought in from another country for
sale. Import goods or services are provided to domestic consumers by foreign producers. An import in
the receiving country is an export to the sending country.
Types of import
There are two basic types of import:
1. Industrial and consumer goods
2. Intermediate goods and services
Companies import goods and services to supply to the domestic market at a cheaper price and better
quality than competing goods manufactured in the domestic market. Companies import products that
are not available in the local market.
There are three broad types of importers:
1. Looking for any product around the world to import and sell.
2. Looking for foreign sourcing to get their products at the cheapest price.
3. Using foreign sourcing as part of their global supply chain.
Direct-import refers to a type of business importation involving a major retailer (e.g. Wal-Mart) and an overseas manufacturer. A
retailer typically purchases products designed by local companies that can be manufactured overseas. In a direct-import program,
the retailer bypasses the local supplier (colloquial middle-man) and buys the final product directly from the manufacturer, possibly
saving in added costs. This type of business is fairly recent and follows the trends of the global economy.
Definition
"Imports" consist of transactions in goods and services (sales, barter, gifts or grants) from non-
residents residents to residents. The exact definition of imports in national accounts includes and
excludes specific "borderline" cases. A general delimitation of imports in national accounts is given
below:
An import of a good occurs when there is a change of ownership from a non-resident to a resident;
this does not necessarily imply that the good in question physically crosses the frontier. However, in
specific cases national accounts impute changes of ownership even though in legal terms no change of
ownership takes place (e.g. cross border financial leasing, cross border deliveries between affiliates of
the same enterprise, goods crossing the border for significant processing to order or repair). Also
smuggled goods must be included in the import measurement.
Imports of services consist of all services rendered by non-residents to residents. In national accounts
any direct purchases by residents outside the economic territory of a country are recorded as imports
of services; therefore all expenditure by tourists in the economic territory of another country are
considered as part of the imports of services. Also international flows of illegal services must be
included
2. 2
Import substitution industrialization
Import substitution industrialization or "Import-substituting Industrialization" (called ISI) is a trade
and economic policy that advocates replacing imports with domestic production. It is based on the
premise that a country should attempt to reduce its foreign dependency through the local production
of industrialized products. The term primarily refers to 20th century development economics policies,
though it was advocated since the 18th century.
It has been applied to many countries in Latin America, where it was implemented with the intention
of helping countries to become more self-sufficient and less vulnerable by creating jobs and relying
less on other nations. The ISI is based primarily on the internal market. The ISI works by having the
state lead economic development through nationalization, subsidization of vital industries (including
agriculture, power generation, etc.), increased taxation to fund the above, and highly protectionist
trade policy. Import substitution industrialization was gradually abandoned by developing countries in
the 1980s and 1990s due to disappointment with the results.
Adopted in many Latin American countries from the 1930s until around the 1980s, and in some Asian
and African countries from the 1950s on, ISI was theoretically organized in the works of Raúl
Prebisch, Hans Singer, Celso Furtado and other structural economic thinkers, and gained prominence
with the creation of the United Nations Economic Commission for Latin America and the Caribbean
(UNECLAC or CEPAL). Insofar as its suggestion of state-induced industrialization through
governmental spending, it is largely influenced by Keynesian thinking, as well as the infant industry
arguments adopted by some highly industrialized countries, such as the United States, until the 1940s.
ISI is often associated with dependency theory, though the latter adopts a much broader sociological
outlook which also addresses cultural elements thought to be linked with underdevelopment.
History
Even though ISI is a development theory, its political implementation and theoretical rationale are
rooted in trade theory – it has been argued that all or virtually all nations that have industrialized have
followed ISI.
Mercantilist economic theory and practices of the 16th, 17th, and 18th century frequently advocated
building up domestic manufacturing and import substitution. In the early United States, the
Hamiltonian economic program, specifically the third report and magnum opus of Alexander
Hamilton, the Report on Manufactures, advocated that the US become self-sufficient in manufactured
goods. This formed the basis of the American School, which was an influential force during the
United States's 19th century industrialization.
Indeed, Baer contends that all countries which have industrialized after the United Kingdom went
through a stage of ISI in which the large part of investment in industry was directed to replace imports
(Baer, pp. 95–96). Going further, in his book Kicking away the ladder, Korean economist Ha-Joon
Chang also argues, based on economic history, that all major developed countries – including the
United Kingdom – used interventionist economic policies to promote industrialization and protected
national companies until they had reached a level of development in which they were able to compete
in the global market, after which those countries adopted free market discourses directed at other
countries in order to obtain two objectives: to open their markets to local products and to prevent them
from adopting the same development strategies which led to the developed nations' industrialization.
3. 3
Theoretical basis
As a set of development policies, ISI policies are theoretically grounded on the Singer-Prebisch thesis,
on the infant industry argument, and on Keynesian economics. From these postulates, it derives a
body of practices, which are commonly: an active industrial policy to subsidize and orchestrate
production of strategic substitutes, protective barriers to trade (such as tariffs), an overvalued currency
to help manufacturers import capital goods (heavy machinery), and discouragement of foreign direct
investment.
In many cases, however, these postulates did not apply: on several occasions, the Brazilian ISI
process, which occurred from 1930 until the end of the 1980s, involved currency devaluation as a
means of boosting exports and discouraging imports (thus promoting the consumption of locally
manufactured products), as well as the adoption of different exchange rates for importing capital
goods and for importing consumer goods. Moreover, governmental policies toward investment were
not always opposed to foreign capital: the Brazilian industrialization process was based on a tripod
which involved governmental, private, and foreign capital, the first being directed to infrastructure
and heavy industry, the second to manufacturing consumer goods, and the third, to the production of
durable goods (such as automobiles). Volkswagen, Ford, GM and Mercedes all established in Brazil
in the 1950s and 1960s.
The major and unifying postulate of ISI can thus be described as an attempt to reduce foreign
dependency of a country's economy through local production of industrialized products, whether
through national or foreign investment, for domestic or foreign consumption. It should be noted, as
well, that import substitution does not mean import elimination: as a country industrializes, it begins
to import other kinds of goods which become necessary for its industry, such as petroleum, chemicals,
and the raw materials it may lack. The real objective of import substitution is therefore not to
eliminate trade but to lift it to higher stage, that of exporting value-added products, not as susceptible
to economic fluctuations as raw materials, according to the Singer-Prebisch thesis.
East Asia
ISI was rejected by most nations in East Asia in the 1960s, and some economists[who?] attribute the
superior performance of East Asia in the 1970s and 1980s to this difference in policies. Indeed, East
Asian policies are most commonly not referred to as ISI.
Most "East Asian Tigers" rejected import substitution policies, though they maintained high tariff
barriers. The strategy followed by those countries was to focus subsidies and investment on industries
which would make goods for export, and not to attempt to undervalue the local currency. This export
promotion approach to industrialization in the East Asian countries contrasts with the strategy of ISI.
In pursuing this and to boost its competitiveness in the 1970s, South Korea made large investments
into heavy and chemical industries, such as shipbuilding, steel and petrochemicals. This focus on
export markets allowed them to create competitive industries.
4. 4
Advantages and disadvantages
The major advantages claimed for ISI include increases in domestic employment (reducing
dependence on labor non-intensive industries such as raw resource extraction and export); resilience
in the face of global economic shocks (such as recessions and depressions); less long-distance
transportation of goods (and concomitant fuel consumption and greenhouse gas and other emissions).
A disadvantage claimed for ISI is that the industries that it creates are inefficient and obsolete as they
are not exposed to internationally competitive industries, which constitute their rivals, and that the
focus on industrial development impoverishes local commodity producers, who are primarily rural.
Reasons for ISI
• It is dangerous to rely on one primary commodity export industry.
• Deteriorating terms of trade for necessitate intervention.
• Labor intensive exports trap workers in low wage industries.
• Helps “infant industries” grow.
• Cut imports rather than encourage exports .
5. 5
Externally: ISI Distorts BoP
Imports are blocked = less currency in international market = inflated exchange rate.
This contributes to less competitive export industries = reduced tax revenue from abroad.
High Fx = negative BoP = budget deficit
Domestic Effects of ISI
At the same time, ISI necessitates government investment in modernization at expense of
traditional industries.
Demands for skilled workers.
Low interest rates cause low savings rate and investment in heavy industry.
Inflation due to high cost of goods manufactured domestically.
Concluding Thoughts
6. 6
• ISI served a purpose.
• It was a step in the process of industrialization.
• Government can stimulate free market forces, but not replace them.
• ISI needed an exit (transition) strategy from the start.
Crises
ISI can cause crises by several ways:
Chronic problems with the balance of trade and payments
Import substitution was supposed to reduce reliance on world trade, but every nation needs to import
something not available locally like raw materials, machinery, spare parts. The more a country
industrialized, the more it needs these imports, and ISI is strongly biased against exports. Trade
protection and overvalued exchange rates raised domestic prices and made export less competitive
and export taxes furthermore discourage foreign sales. So the industrializing countries are unable to
export enough to buy the imports they needed.
Deep recessions
The faster the economy grows, the more it needs imports, but exports cannot keep up with the pace of
imports and so the country runs out of foreign currency. The governments try to restrict import to
essentials and raise interest rate to bring money to the country and keep it at home. They devalue the
currency to raise the price of imports and make exports more attractive, also reducing the countries'
purchasing power, which resulted in usually deep recessions.
ISI countries tended to run substantial budget deficits and inflation
Government subsidized industrial investments give tax breaks to industrial investors and targeted
spending at politically important groups but such spending chronically outpaces government revenue,
and these budget deficits atr usually covered by printing more money. The result was inflation, which
makes domestic goods more expensive, which in turn reduces exports even further.
7. 7
Negative impact on income distribution
Many farmers migrated to the cities in search for jobs in the new industries. Since import-substitution
growth was very capital intensive. Few of the farmers who flooded into the cities find the jobs that
industrialization had promised. ISI countries end up with dual economies;
On one hand, modern capital-intensive industries with skilled, well-organized workers earning
relatively high wages
On the other hand, a mass of struggling farmers and urban poor frozen out of the modern economy,
given very low wages and excluded from the social protections which modern sector workers received
Incentive for capitalists to resist state planning
To carry out industrial planning, states need to build the necessary state institutions, such as a
Planning Commission, to formulate production targets and later enforce them. But since ISI industries
were protected from international competition, capitalists are not compelled by the market to meet
international standards of efficiency. Thus, capitalists often resist state efforts to enforce industrial
plans and force investments in improving productivity.
Goodbye ISI – Hello Trade Reform
• Strong labor unions wanted, government could grow fast enough, and class tension erupted.
• Crawling peg Fx rate = inflation.
• Export subsidies = government borrowing = more deficit & more imports.
The Rise of ISI
• The Great Depression caused a drop in commodity prices, foreign exchange reserves dried up,
and countries could not buy necessary imports.
• Lots of exports and nothing to import.
8. 8
Implementation of ISI
• Economy-wide strategy designed to establish new industries.
• Included: licensing, tariffs, overvalued Fx, and government investment in local industry (built
plants, etc.)
• Easy access to credit / low interest rates.
International Trade relation table of Bangladesh:-
Major Exports : Readymade garments, frozen foods (shrimps), leather, leather
products, jute, jute products, tea, ceramic, textile fabrics, home
textile, chemical product, light engineering products including bi-
cycle.
Major Imports : Oil, edible oil, petroleum product, wheat, seeds, fertilizer, yarn,
capital goods, machinery, power generating machinery, scientific &
medical equipment, iron & steel, motor vehicles, raw cotton,
chemicals.
Major Trading Partners : USA, EU countries, China, India, Pakistan, Japan, South Korea,
Canada, Australia, Malaysia, Hong Kong, Taiwan, Thailand,
Indonesia, Saudi Arabia and UAE
www.mincom.info
Export Import & Foreign Remittance Earnings Information:-
Fiscal Year Total Export Total Import Foreign Remittance
Earnings
2007–2008 $14.11b $25.205b $8.9b
2008–2009 $15.56b $22.00b+ $9.68b
2009-2010 $16.7b ~$24b $10.87b
2010-2011 $22.93b $32b $11.65b
11. 11
Conclusion
From the above discussion we are understand the ISI. In our developing country we are consider the
SME & small business. This is only the way how we can overcome the problems. We can make our
economy better & prosperous. Easily implement the ISI, export more & import less. We can control
the high inflation of our currency take our country as a export based country.
The major advantages claimed for ISI include increases in domestic employment (reducing
dependence on labor non-intensive industries such as raw resource extraction and export); resilience
in the face of global economic shocks (such as recessions and depressions); less long-distance
transportation of goods (and concomitant fuel consumption and greenhouse gas and other emissions).