international economics
mr0098
Project2SPRING2020-2021.docxECON 331 INTERNATIONAL TRADE and ECONOMICS
PROJECT 2
(Deadline for submission 4th June, 2021)
World trade figures are changing every year due to changes in countries’ trade relations as well as changes in climatic conditions, political issues or recently due to pandemic like disasters. You are going to make a research and analysis related with the changing trade patterns arround the World in order to understand the trends and changing patterns.
Within the content of Project-2 you are going to select a product from the list below and collect the required data from the given website below in order to prepare the tables and figures given below:
a. Choose one of the product from the list below and register your name for that product to your lecturer.
SITC Product Name SITC Product Name
0201 Meat of Bovine Animals (Beef etc) 1801 Cocoa Beans
0207 Meat of Fowls (Chicken, turkey etc) 1902 Pasta
0405 Butter 2002 Tomatoes
0802 Nuts 2401 Tobacco
0803 Bananas 2501 Salt
0902 Tea 4001 Rubber
1001 Wheat 5001 Silk
1006 Rice 5201 Cotton
1201 Soya Beans 7101 Gold
1509 Olive Oil 7201 Pig Iron
1704 Sugar Confectionary 7401 Copper
b. Use the following web site of International Trade Center’s (ITC) http://www.intracen.org/itc/market-info-tools/statistics-export-product-country/
to download the total World export figures (both as value and quantity) of the selected product for the years between 2001-2020
c. Construct two line graph showing the World Export figures of the selected product on one graph the values and on other one the quantities.
d. By using the downloaded total World export value and export quantitity, calculate the average price of the product between the years 2001 and 2020 (Hint: Average Price2001= Export Value2001/Export Quantity2001). Show on a third line graph the average prices you derived fort he selected product (if there are m issing values for certain years leave it empty rather than imposing 0 in place).
e. Find the top 5 Exporter country of the selected product and top 5 Importer country with their relative percentage out of total World exports and imports.
f. From the data downloaded, you will choose a country (it can be any of the first five exporter of that product) and then calculate the Revealed Comparative Advantage of that country fort the selected product only for the years 2000 and 2020. In order to see if there is any change in its comparative advantage within this period (Do not forget that any value of RCA greater than 1 indicates advantage however any value less than 1 disadvantage)
Comparative (Country X’s 2020 Export Value of good Y / Country X’s 2020 Total Exports) Advantage
Coefficient = ----------------------------------------------------------------------------------------------------
Value 2020) (World Total Export of good Y 2020 / Total World Export in 2020) Export)
Any value for the RCA greater than 1 (RCA > 1) indicates Comparative Advantage of that country in the trade of that product
E
C
ON 331
INTERNATIONAL TRADE and ECONOMICS
PROJECT
2
(Deadline for submission
4th June, 2021
)
World trade figures are changing
every year due
to changes in countries’ trade relations as well as
changes in
climatic conditions, political
issues or recently
due to pandemic like disasters.
You
are
going to make
a
research and analysis related with the changing trade patterns arround the World
in order to understand the trends and changing patterns.
Within the content of Project
-
2
you are going to select a
product
from the list below and collect the
required
data from the
given
webs
i
te
below
in order
to prepare the tables and figures
given below:
a.
Choose one of the product from the list
below
and register
your name for that product
to
your lecturer.
SITC
Pro
duct Name
SITC
Product Name
0201 Meat of Bovine Animals (Beef etc)
1801 Cocoa Beans
0207 Meat of Fowls (Chicken, turkey etc)
1902 Pasta
0405 Butter
2002 Tomatoes
0802 Nuts
2401 Tobacco
0803 Bananas
2501 Salt
0901 Coffee
3103 Fertilisers
0902 Tea
4001 Rubber
1001 Wheat
5001 Silk
1006 Rice
5201 Cotton
1201 Soya Beans
7101 Gold
1509 Olive Oil
7201 Pig Iron
170
4
Sugar
Confectionary
7401 Copper
b.
Use the following web site of International Trade Center’s
(ITC)
http://www.intracen.org/itc/market
-
info
-
tools/statistics
-
export
-
product
-
country/
to download the total
World export
figures
(
both
as
value
and
quantity
)
of the selected
product for
the years between
2001
-
20
20
c.
Construct
two
line graph showing
the World Export figures of the selected product on one
graph the
values
and
on other one the
quantities
.
d.
By using the downloaded total World export value and
export quantitity, calculate the
average price
of the product between the years 2001 and 20
20
(Hint: Average Price
2001
=
Export Value
2001
/Export Quantity
2001
).
Show on a third line graph the average prices you
derived fort he selected product (if there are
m
issing values for certain years leave it empty
rather than imposing 0 in place).
e.
Find
the
top 5 Exporter
country of the selected product and top 5 Importer country with
their relative percentage out of total
World
exports and imports.
ECON 331 INTERNATIONAL TRADE and ECONOMICS
PROJECT 2
(Deadline for submission 4th June, 2021)
World trade figures are changing every year due to changes in countries’ trade relations as well as
changes in climatic conditions, political issues or recently due to pandemic like disasters. You are
going to make a research and analysis related with the changing trade patterns arround the World
in order to understand the trends and changing patterns.
Within the content of Project-2 you are going to select a product from the list below and collect the
required data from the given website below in order to prepare the tables and figures given below:
a. Choose one of the product from the list below and register your name for that product to
your lecturer.
SITC Product Name SITC Product Name
0201 Meat of Bovine Animals (Beef etc) 1801 Cocoa Beans
0207 Meat of Fowls (Chicken, turkey etc) 1902 Pasta
0405 Butter 2002 Tomatoes
0802 Nuts 2401 Tobacco
0803 Bananas 2501 Salt
0901 Coffee 3103 Fertilisers
0902 Tea 4001 Rubber
1001 Wheat 5001 Silk
1006 Rice 5201 Cotton
1201 Soya Beans 7101 Gold
1509 Olive Oil 7201 Pig Iron
1704 Sugar Confectionary 7401 Copper
b. Use the following web site of International Trade Center’s (ITC)
http://www.intracen.org/itc/market-info-tools/statistics-export-product-country/
to download the total World export figures (both as value and quantity) of the selected
product for the years between 2001-2020
c. Construct two line graph showing the World Export figures of the selected product on one
graph the values and on other one the quantities.
d. By using the downloaded total World export value and export quantitity, calculate the
average price of the product between the years 2001 and 2020 (Hint: Average Price
2001
=
Export Value
2001
/Export Quantity
2001
). Show on a third line graph the average prices you
derived fort he selected product (if there are m issing values for certain years leave it empty
rather than imposing 0 in place).
e. Find the top 5 Exporter country of the selected product and top 5 Importer country with
their relative percentage out of total World exports and imports.
