An international report made available here on Saturday said that the world-wide imports and exports each touched $6.5 trillion a year mark causing greater economic interdependence among nations.
The interdependence is more so among nations exporting their raw materials and natural resources to countries producing finished goods. The main examples cited are crude oil, cotton, wool, raw hides and minerals.
The current estimates are that 80 percent of cargo is still being shipped by sea--through tankers and containers. The number of containers, according to authentic records, is estimated at 11 million and vessels used for their carriage are nearly 46,000 which use 4,000 ports around the world.
This volume of trade and its modes of carriage are causing more headaches to the western countries, especially the US, which consider them as most vulnerable to attacks from adversaries at sea.
The global trade, according to the international commerce watchers, is growing at phenomenal rate every year. It is because of growing world population which creates new markets for the finished goods and desire of the less-developed countries to industrialise and become self-sufficient in most of their needs. The latter put more demand on the raw material and natural resources.
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