Keywords
Balassa Index
Spearman Coefficient
Pearson Coefficient
How to Cite
Abstract
The chemical sector plays a significant role in the manufacturing sector of India. The present study made an attempt to examine the trade pattern in the chemical sector using Balassa Index, Spearman Rank Correlation (SRC) and Pearson coefficient. It reveals that India has a competitive relationship with China, USA and Saudi Arabia in global chemicals and chemical products market, has better position than China and Saudi Arabia in terms of comparative advantageous subsectors of chemical sector in global market. SRC analysis indicates marginal structural changes within nation between time period 2000, 2010 and 2022, confirmed by Pearson coefficient. The present analysis identifies the untapped trade potential in sub-sectors of the chemical sector. Hence, these findings have great relevance for formulating the trade policy as it provides valuable insights related to trade potential and the trade patterns in chemicals and chemical products.
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