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A product of the Private Sector Outreach of the Office of Trade Negotiations (OTN), formerly the
+                                         CRNM




                 Private Sector
                      Trade Note
                          CARICOM-India Trade1


     INDIA TRADE   OVERVIEW

    CARICOM and India have an interesting history. India remains a        rolled iron or steel; black/green beans dried and shelled; white
    leading developing country trading partner for the region. India      portland cement; mens/boys jackets and blazers of cotton not
    is a considerable market with various opportunities of interest       knitted; beeswax whether or not refined; potassium phosphates;
    being exploited with varying degrees of success by CARICOM            silver nitrates; bitumen mixtures based on natural asphalt;
    firms. In 2009, Indian importers spent US$266bn on global             unwrought rhodium; and cashew nuts. Some of these products
    merchandise imports. India also represents a dynamic global           represent trade opportunities for CARICOM exporters.
    market with import spending expanding by approximately 23%
    annually between 2001 and 2009. This country therefore
    represents a higher growth market compared to global
    merchandise import spending trends, as between 2001 and
    2009, global import spending expanded by 9.2% annually.
                                                                          ___________________________________________ 
                                                                          1
                                                                            All data from the International trade Centre (ITC) tradeMAP database.
    The top merchandise imports in 2009 included crude petroleum          www.TradeMAP.com Retrieved May 6, 2011
    oils (US$65bn); Gold in unwrought forms (US$23bn); non                2
                                                                             However, some competing importing opportunities include T-shirts,
    industrial diamonds (US$9.2bn); and Coal (US$7.5bn). Between          singlets and other vests of cotton, knitted; aviation spirit; rice; bovine
    2001 and 2009, some of the most dynamic merchandise imports           cuts boneless, frozen; frozen shrimps and prawns; unmanufactured
    into India included liquefied natural gas; unwrought platinum; hot    tobacco; cashew nuts; and leather footwear.



                                                             www.crnm.org
India also represents a dynamic                                                      Figure 1: India Import Spending (US$bn). 
exporting market capable of
supplying some of the import needs             350
                                                                                                                                                               315.7
of the region, including various non-          300
                                                                                                                                                                          266.4
competing imports. In 2009, Indian             250
                                                                                                                                                  218.6
exporters generated US$177bn in                200
                                                                                                                                      178.2
merchandise export sales. Some of              150                                                                         140.9
the top merchandise exports from               100                                                            99
India in 2009 included diamonds;                                                                77.2
                                                50               51.9            61.1
articles of jewellery; aviation spirit;
                                                 0
and light petroleum distillates1.
                                                          2001            2002            2003          2004         2005          2006       2007          2008       2009

In 2009, the top markets from which
Indian importers purchased goods              Source: TradeMAP. http://www.trademap.org/Country_SelProductCountry_TS.aspx Retrieved May 25, 2011. 
included China (US$30.6bn); The
United Arab Emirates (US$19.7bn);
                                          global import growth rate for tangible products. India is a considerable export market for
The United States of America
                                          CARICOM firms, as in 2009; CARICOM exporters generated US$195.5mn in international sales
(US$16bn);        Saudi      Arabia
                                          from India. However, CARICOM economies spent almost US$800mn to import goods from India.
(US$14.5bn); Australia (US$12bn);
                                          CARICOM member state’s export sales generated from India expanded faster than the growth in
and Germany (US$11bn). The top
                                          CARICOM’s import expenditure on Indian goods between 2001 and 2009.
markets in which Indian exporters
generated export sales in 2009
                                          Between 2001 and 2009, CARICOM exporters expanded their export sales generated in India by
included The United Arab Emirates
                                          an average of 59%, making this one of the region’s most dynamic export markets since 2001.
(US$25.4bn);        The        USA
                                          Simultaneously, Indian exporters to CARICOM expanded their export sales by over 49% per
(US$19.2bn); China (US$10.4bn);
                                          year. The region lost international competitiveness with India which was reflected in a significant
Hong Kong China (US$7.2bn);
                                          expansion of the merchandise trade deficit from US$27mn in 2001 to US$604mn in 2009.
Singapore (US$6.8bn) and The
United Kingdom (US$6.5bn).

                                                                                        Figure 2: CARICOM‐India Trade (US$bn). 
 CARICOM-INDIA TRADE


The Indian market has tremendous                             900
opportunity based on the level of,                           800
and     dynamism     in,   import
expenditure observed since 2001                              700
where India’s growth in import                               600
spending more than doubled the
                                                             500

                                                             400

                                                         300
                                          ___________________________________________ 
                                          3
                                             However, some competing importing opportunities include gold in unwrought forms non monetary; coffee not
                                          roasted or decaffeinated; ferro-nickel; bananas including plantains fresh or dried; aviation spirit; fresh cut flowers;
                                                         200
                                          refined sugar; and waste and scrap of copper or copper alloy. 
                                                         100

                                                                 0
                                                                         2001            2002      2003            2004      2005         2006       2007      2008      2009
                                                         exports           4.8            8.8          23.7        140       82.8         131.3   158.7        192.1     195.5
                                                         imports          31.7            59           61          220.7    136.2         221.4   160.6        487.1     799.7

                                                Source: www.TradeMAP.com Retrieved April 28, 2011. 




                                                                     www.crnm.org
Trinidad & Tobago was the top exporting                   256% per year1. Trinidad & Tobago1, Suriname and Dominica also exhibited some
member state in 2009, generating 76% of                   export dynamism.
the region’s total export sales (i.e. domestic
exports and re-exports) from India. Other                 As is the case for most other markets, between 2001 and 2009, CARICOM’s top exports
top exporters to India in 2009 included St.               to India are resource based and concentrated in the energy sector. In 2009 CARICOM
Lucia (US$26.2mn), St. Vincent & The                      mainly exported liquefied natural gas (LNG) which accounted for 72% of CARICOM’s
Grenadines         (US$7.3mn),         Guyana             total merchandise exports to India. Other dominant exports in 2009 are detailed in table
(US$6.1mn), Haiti (US$1.8mn), Suriname                    1 below and included crude petroleum oils; cargo vessels; tropical logs; and various
(US$1.4mn) and Jamaica (US$1mn). St.                      scrap metal products.
Lucia was the most dynamic CARICOM
goods exporter to India between 2001 and                  Based on the observed trade pattern since 2001, CARICOM exporters are sending new
2009 with export sales growing by over                    shipments (i.e. exports in 2009 which were not observed in 2001) to India in a number



                                                        Table 2: CARICOM’s Exports to India

         Product                                       Product label
          code                                                                                       Value in        Value in           AGR
                                                                                                      2001         2009(US$000)
       TOTAL               All products                                                                  4,782           195,532          59.0%
       '271111             Natural gas, liquefied                                                             0          140,917             n/a
       '270900             Petroleum oils and oils obtained from bituminous minerals, crude                   0           25,736             n/a
       '281410             Anhydrous ammonia                                                                  0            7,353             n/a
       '890190             Cargo vessels nes&oth vessels for the transport of both persons&goods              0            7,307             n/a
       '440349             Logs, tropical hardwoods nes                                                     59             5,141          74.8%
       '720449             Ferrous waste and scrap, iron or steel, nes                                      91             4,499          62.8%
       '851770             Parts of telephone sets, telephones for cellular networks or for other             0              648             n/a
       '440399             Logs, non-coniferous nes                                                      1,825               587         -13.2%
       '151110             Palm oil, crude                                                                    0              472             n/a
       '720429             Waste and scrap, of alloy steel, other than stainless                            12               390          54.5%
       '760200             Waste and scrap, aluminium                                                       22               309          39.1%
       '293090             Organo-sulphur compounds, nes                                                      0              258             n/a
       '220840             Rum and tafia                                                                      0              225             n/a
       '090420             Fruits of the genus Capsicum or Pimenta, dried, crushed or ground                  0              200             n/a
       '853120             Indicator panels incorporatg liquid crystal device/light emittg diode              0              137             n/a
       '720410             Waste and scrap, cast iron                                                         0              105             n/a
       '710310             Prec/semi-prec stones (o/t diamonds) unworkd/simply sawn/rough shapd               0              102             n/a
       '999999             Commodities not elsewhere specified                                                0               89             n/a
       '392051             Film and sheet etc, non-cellular etc, of polymethyl methacrylate                   0               72             n/a
       '850680             Primary cells & primary batteries nes                                              0               68             n/a
       '848210             Bearings, ball                                                                     0               65             n/a
       '720421             Waste and scrap, stainless steel                                                   0               48             n/a
       '401699             Articles of vulcanised rubber nes, other than hard rubber                          0               43             n/a
       '844313             Offset printing machinery (excl. sheet fed offset printing machinery,              0               43             n/a
       '300450             Vitamins and their derivatives,in dosage                                           0               40             n/a

      Source: www.TradeMAP.com retrieved June 7, 2011.

  ___________________________________________ 
  3
     St. Lucia’s main export to India was crude petroleum oils obtained from bituminous minerals (HS 270900). This product was exported duty free to
  India in 2009. St. Lucia also exported crude palm Oil to India, but paid a hefty 100% duty in 2009. Scrap metal was the third major export from St.
  Lucia to India in 2009, and incurred a 5% tariff. Trinidad’s top export to India in 2009 was Liquefied Natural Gas (LNG) on which a 5% duty was
  levied. Suriname’s and Dominica’s top export was scrap metal, on which a 5% duty was levied.
  4
    top export to India in 2009 was Liquefied Natural Gas (LNG) on which a 5% duty was levied. Suriname’s and Dominica’s top export was scrap
  metal, on which a 5% duty was levied.

                                                                   www.crnm.org
of areas including LNG; Crude petroleum oils;            Trinidad and Tobago’s exports of anhydrous ammonia were subject to 5%
anhydrous ammonia; cargo vessels; telephone              duties in India. However this tariff did not disadvantage Trinidad and Tobago’s
parts; crude palm oils; pimento; and rum and tafia.      exports versus exports from Saudi Arabia, the top exporter of this product in
None of the top 25 items has a favorable tariff          2009, on which the same tariff was levied. However, exports to India are
preference, but a large number of new export             intermittent with 2005 the only other year where exports were observed.
areas were still observed between 2001 and 2009.         Additionally, India’s imports of this product have been contracting since
                                                         2008.The Ukraine and Malaysia have been amongst the most consistent and
For example, Indian importers paid 5% import             dynamic exporters of anhydrous ammonia to India between 2001 and 2009.
duties to purchase LNG from Trinidad & Tobago in
2009. The same tariff was applied on imports of          Exports of cargo vessels from St. Vincent & The Grenadines also did not
LNG from the top importing nation, Qatar.                receive any special preferences into India as these exports were subject to the
However, in 2009 Trinidad & Tobago still managed         same 5% duty as the exports from Korea. Similarly, St. Lucia’s exports of crude
to generate US$141mn in exports of LNG where             palm oil; The Bahamas’ exports of rum and tafia; Jamaica’s exports of pimento;
no export of this product was observed in 2001.          and Haiti’s exports of aluminium waste and scrap all paid the same duties as
This is an interesting outcome based on the              the major competitors.
observation that LNG from Trinidad and Tobago
was over 80% more expensive (based on unit               Whilst most tariffs were low in 2009, exports of crude palm oil; rum and tafia;
values) than LNG from Qatar, and almost 60%              and pimento were subject to significant tariff peaks of 100%, 150% and 70%
more expensive than the average import price that        respectively. These products could be amongst any major beneficiaries of
Indian importers paid for LNG in 2009. Additionally,     discussions towards some sort of trade preferences.
whilst Indian suppliers of LNG such as Nigeria,
Algeria and the United Arab emirates (UAE)               It is noteworthy that CARICOM’s exports to India have not matched the most
faltered in India between 2008 and 2009, Trinidad        dynamic imports in the market. In other words, CARICOM is exporting to the
and Tobago expanded sales of this product by             slower growing market segments in India. Amongst the most dynamic trade
76% to become the second most dynamic exporter           opportunities with India not explored up to 2010 were ammonium sulphate
of LNG to India between 2008 and 2009.                   (436% average growth in import spending between 2006 and 2010); frozen
Australia’s exports of LNG to India expanded by          peas (428% average growth); raw Ground nuts (413% average growth); raw
97% between 2008 and 2009. One is tempted to             cane sugar (405% average growth); cane molasses (396% average growth);
conclude that export sales may not be very price         portland cement (377% average growth); fertilizers containing nitrogen and
sensitive. Additionally then, there may be little        phosphorous (375% average growth); refined sugar (310% average growth);
value added of negotiations towards tariff               fresh or chilled edible mushrooms (254% average growth); cocoa beans (224%
reductions in this instance.                             average growth); fresh citrus fruits (206% average growth); coffee substitutes
                                                         (192% average growth); and footwear with outer soles of rubber.
Imports of crude petroleum oils were duty free for
all exporters to India. Therefore, St. Lucia’s exports   Up to 2009, CARICOM’s top merchandise imports from India included
of this product received no special trade                medicaments; fire fighting vehicles; pneumatic tyres; distilling and rectifying
preferences in India. Regardless of this fact, St        plants; dentrifices; matches; cashew nuts; sweet biscuits; pipes of iron or steel;
Lucia grew exports of crude petroleum to India           hair preparations; and plastic furniture.
from no exports in 2001 to US$25.7mn in 2009.
Interestingly, St. Lucia’s exports of crude petroleum    Please continue suggesting topics of interest for future trade notes to
seemed price competitive in India as St. Lucia           lincoln.price@crnm.org .
undercut the global import price for this product by
28% in 2009. St. Lucian crude petroleum was also
over 30% cheaper than imports from India’s top
importer of crude petroleum in 2009, Saudi Arabia.
     Produced by the OTN Information Unit, 2011

   DIRECT ALL COMMENTS OR QUERIES TO:

                   Mr. Lincoln Price
                Private Sector Liaison
                lincoln.price@crnm.org




                                                         www.crnm.org

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OTN - Private Sector Trade Note - Vol 7 2011

  • 1. A product of the Private Sector Outreach of the Office of Trade Negotiations (OTN), formerly the + CRNM Private Sector Trade Note CARICOM-India Trade1  INDIA TRADE OVERVIEW CARICOM and India have an interesting history. India remains a rolled iron or steel; black/green beans dried and shelled; white leading developing country trading partner for the region. India portland cement; mens/boys jackets and blazers of cotton not is a considerable market with various opportunities of interest knitted; beeswax whether or not refined; potassium phosphates; being exploited with varying degrees of success by CARICOM silver nitrates; bitumen mixtures based on natural asphalt; firms. In 2009, Indian importers spent US$266bn on global unwrought rhodium; and cashew nuts. Some of these products merchandise imports. India also represents a dynamic global represent trade opportunities for CARICOM exporters. market with import spending expanding by approximately 23% annually between 2001 and 2009. This country therefore represents a higher growth market compared to global merchandise import spending trends, as between 2001 and 2009, global import spending expanded by 9.2% annually. ___________________________________________  1 All data from the International trade Centre (ITC) tradeMAP database. The top merchandise imports in 2009 included crude petroleum www.TradeMAP.com Retrieved May 6, 2011 oils (US$65bn); Gold in unwrought forms (US$23bn); non 2 However, some competing importing opportunities include T-shirts, industrial diamonds (US$9.2bn); and Coal (US$7.5bn). Between singlets and other vests of cotton, knitted; aviation spirit; rice; bovine 2001 and 2009, some of the most dynamic merchandise imports cuts boneless, frozen; frozen shrimps and prawns; unmanufactured into India included liquefied natural gas; unwrought platinum; hot tobacco; cashew nuts; and leather footwear. www.crnm.org
  • 2. India also represents a dynamic Figure 1: India Import Spending (US$bn).  exporting market capable of supplying some of the import needs 350 315.7 of the region, including various non- 300 266.4 competing imports. In 2009, Indian 250 218.6 exporters generated US$177bn in 200 178.2 merchandise export sales. Some of 150 140.9 the top merchandise exports from 100 99 India in 2009 included diamonds; 77.2 50 51.9 61.1 articles of jewellery; aviation spirit; 0 and light petroleum distillates1. 2001 2002 2003 2004 2005 2006 2007 2008 2009 In 2009, the top markets from which Indian importers purchased goods Source: TradeMAP. http://www.trademap.org/Country_SelProductCountry_TS.aspx Retrieved May 25, 2011.  included China (US$30.6bn); The United Arab Emirates (US$19.7bn); global import growth rate for tangible products. India is a considerable export market for The United States of America CARICOM firms, as in 2009; CARICOM exporters generated US$195.5mn in international sales (US$16bn); Saudi Arabia from India. However, CARICOM economies spent almost US$800mn to import goods from India. (US$14.5bn); Australia (US$12bn); CARICOM member state’s export sales generated from India expanded faster than the growth in and Germany (US$11bn). The top CARICOM’s import expenditure on Indian goods between 2001 and 2009. markets in which Indian exporters generated export sales in 2009 Between 2001 and 2009, CARICOM exporters expanded their export sales generated in India by included The United Arab Emirates an average of 59%, making this one of the region’s most dynamic export markets since 2001. (US$25.4bn); The USA Simultaneously, Indian exporters to CARICOM expanded their export sales by over 49% per (US$19.2bn); China (US$10.4bn); year. The region lost international competitiveness with India which was reflected in a significant Hong Kong China (US$7.2bn); expansion of the merchandise trade deficit from US$27mn in 2001 to US$604mn in 2009. Singapore (US$6.8bn) and The United Kingdom (US$6.5bn).  Figure 2: CARICOM‐India Trade (US$bn).   CARICOM-INDIA TRADE The Indian market has tremendous 900 opportunity based on the level of, 800 and dynamism in, import expenditure observed since 2001 700 where India’s growth in import 600 spending more than doubled the 500 400 300 ___________________________________________  3   However, some competing importing opportunities include gold in unwrought forms non monetary; coffee not roasted or decaffeinated; ferro-nickel; bananas including plantains fresh or dried; aviation spirit; fresh cut flowers; 200 refined sugar; and waste and scrap of copper or copper alloy.  100 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 exports 4.8 8.8 23.7 140 82.8 131.3 158.7 192.1 195.5 imports 31.7 59 61 220.7 136.2 221.4 160.6 487.1 799.7 Source: www.TradeMAP.com Retrieved April 28, 2011.  www.crnm.org
  • 3. Trinidad & Tobago was the top exporting 256% per year1. Trinidad & Tobago1, Suriname and Dominica also exhibited some member state in 2009, generating 76% of export dynamism. the region’s total export sales (i.e. domestic exports and re-exports) from India. Other As is the case for most other markets, between 2001 and 2009, CARICOM’s top exports top exporters to India in 2009 included St. to India are resource based and concentrated in the energy sector. In 2009 CARICOM Lucia (US$26.2mn), St. Vincent & The mainly exported liquefied natural gas (LNG) which accounted for 72% of CARICOM’s Grenadines (US$7.3mn), Guyana total merchandise exports to India. Other dominant exports in 2009 are detailed in table (US$6.1mn), Haiti (US$1.8mn), Suriname 1 below and included crude petroleum oils; cargo vessels; tropical logs; and various (US$1.4mn) and Jamaica (US$1mn). St. scrap metal products. Lucia was the most dynamic CARICOM goods exporter to India between 2001 and Based on the observed trade pattern since 2001, CARICOM exporters are sending new 2009 with export sales growing by over shipments (i.e. exports in 2009 which were not observed in 2001) to India in a number Table 2: CARICOM’s Exports to India Product Product label code Value in Value in AGR 2001 2009(US$000) TOTAL All products 4,782 195,532 59.0% '271111 Natural gas, liquefied 0 140,917 n/a '270900 Petroleum oils and oils obtained from bituminous minerals, crude 0 25,736 n/a '281410 Anhydrous ammonia 0 7,353 n/a '890190 Cargo vessels nes&oth vessels for the transport of both persons&goods 0 7,307 n/a '440349 Logs, tropical hardwoods nes 59 5,141 74.8% '720449 Ferrous waste and scrap, iron or steel, nes 91 4,499 62.8% '851770 Parts of telephone sets, telephones for cellular networks or for other 0 648 n/a '440399 Logs, non-coniferous nes 1,825 587 -13.2% '151110 Palm oil, crude 0 472 n/a '720429 Waste and scrap, of alloy steel, other than stainless 12 390 54.5% '760200 Waste and scrap, aluminium 22 309 39.1% '293090 Organo-sulphur compounds, nes 0 258 n/a '220840 Rum and tafia 0 225 n/a '090420 Fruits of the genus Capsicum or Pimenta, dried, crushed or ground 0 200 n/a '853120 Indicator panels incorporatg liquid crystal device/light emittg diode 0 137 n/a '720410 Waste and scrap, cast iron 0 105 n/a '710310 Prec/semi-prec stones (o/t diamonds) unworkd/simply sawn/rough shapd 0 102 n/a '999999 Commodities not elsewhere specified 0 89 n/a '392051 Film and sheet etc, non-cellular etc, of polymethyl methacrylate 0 72 n/a '850680 Primary cells & primary batteries nes 0 68 n/a '848210 Bearings, ball 0 65 n/a '720421 Waste and scrap, stainless steel 0 48 n/a '401699 Articles of vulcanised rubber nes, other than hard rubber 0 43 n/a '844313 Offset printing machinery (excl. sheet fed offset printing machinery, 0 43 n/a '300450 Vitamins and their derivatives,in dosage 0 40 n/a Source: www.TradeMAP.com retrieved June 7, 2011. ___________________________________________  3 St. Lucia’s main export to India was crude petroleum oils obtained from bituminous minerals (HS 270900). This product was exported duty free to India in 2009. St. Lucia also exported crude palm Oil to India, but paid a hefty 100% duty in 2009. Scrap metal was the third major export from St. Lucia to India in 2009, and incurred a 5% tariff. Trinidad’s top export to India in 2009 was Liquefied Natural Gas (LNG) on which a 5% duty was levied. Suriname’s and Dominica’s top export was scrap metal, on which a 5% duty was levied. 4 top export to India in 2009 was Liquefied Natural Gas (LNG) on which a 5% duty was levied. Suriname’s and Dominica’s top export was scrap metal, on which a 5% duty was levied. www.crnm.org
  • 4. of areas including LNG; Crude petroleum oils; Trinidad and Tobago’s exports of anhydrous ammonia were subject to 5% anhydrous ammonia; cargo vessels; telephone duties in India. However this tariff did not disadvantage Trinidad and Tobago’s parts; crude palm oils; pimento; and rum and tafia. exports versus exports from Saudi Arabia, the top exporter of this product in None of the top 25 items has a favorable tariff 2009, on which the same tariff was levied. However, exports to India are preference, but a large number of new export intermittent with 2005 the only other year where exports were observed. areas were still observed between 2001 and 2009. Additionally, India’s imports of this product have been contracting since 2008.The Ukraine and Malaysia have been amongst the most consistent and For example, Indian importers paid 5% import dynamic exporters of anhydrous ammonia to India between 2001 and 2009. duties to purchase LNG from Trinidad & Tobago in 2009. The same tariff was applied on imports of Exports of cargo vessels from St. Vincent & The Grenadines also did not LNG from the top importing nation, Qatar. receive any special preferences into India as these exports were subject to the However, in 2009 Trinidad & Tobago still managed same 5% duty as the exports from Korea. Similarly, St. Lucia’s exports of crude to generate US$141mn in exports of LNG where palm oil; The Bahamas’ exports of rum and tafia; Jamaica’s exports of pimento; no export of this product was observed in 2001. and Haiti’s exports of aluminium waste and scrap all paid the same duties as This is an interesting outcome based on the the major competitors. observation that LNG from Trinidad and Tobago was over 80% more expensive (based on unit Whilst most tariffs were low in 2009, exports of crude palm oil; rum and tafia; values) than LNG from Qatar, and almost 60% and pimento were subject to significant tariff peaks of 100%, 150% and 70% more expensive than the average import price that respectively. These products could be amongst any major beneficiaries of Indian importers paid for LNG in 2009. Additionally, discussions towards some sort of trade preferences. whilst Indian suppliers of LNG such as Nigeria, Algeria and the United Arab emirates (UAE) It is noteworthy that CARICOM’s exports to India have not matched the most faltered in India between 2008 and 2009, Trinidad dynamic imports in the market. In other words, CARICOM is exporting to the and Tobago expanded sales of this product by slower growing market segments in India. Amongst the most dynamic trade 76% to become the second most dynamic exporter opportunities with India not explored up to 2010 were ammonium sulphate of LNG to India between 2008 and 2009. (436% average growth in import spending between 2006 and 2010); frozen Australia’s exports of LNG to India expanded by peas (428% average growth); raw Ground nuts (413% average growth); raw 97% between 2008 and 2009. One is tempted to cane sugar (405% average growth); cane molasses (396% average growth); conclude that export sales may not be very price portland cement (377% average growth); fertilizers containing nitrogen and sensitive. Additionally then, there may be little phosphorous (375% average growth); refined sugar (310% average growth); value added of negotiations towards tariff fresh or chilled edible mushrooms (254% average growth); cocoa beans (224% reductions in this instance. average growth); fresh citrus fruits (206% average growth); coffee substitutes (192% average growth); and footwear with outer soles of rubber. Imports of crude petroleum oils were duty free for all exporters to India. Therefore, St. Lucia’s exports Up to 2009, CARICOM’s top merchandise imports from India included of this product received no special trade medicaments; fire fighting vehicles; pneumatic tyres; distilling and rectifying preferences in India. Regardless of this fact, St plants; dentrifices; matches; cashew nuts; sweet biscuits; pipes of iron or steel; Lucia grew exports of crude petroleum to India hair preparations; and plastic furniture. from no exports in 2001 to US$25.7mn in 2009. Interestingly, St. Lucia’s exports of crude petroleum Please continue suggesting topics of interest for future trade notes to seemed price competitive in India as St. Lucia lincoln.price@crnm.org . undercut the global import price for this product by 28% in 2009. St. Lucian crude petroleum was also over 30% cheaper than imports from India’s top importer of crude petroleum in 2009, Saudi Arabia. Produced by the OTN Information Unit, 2011 DIRECT ALL COMMENTS OR QUERIES TO: Mr. Lincoln Price Private Sector Liaison lincoln.price@crnm.org www.crnm.org