Commerce and Trade
The Gulf of Aden is a vital waterway for shipping, especially for Persian Gulf oil, making it an integral waterway in the world economy. Approximately 11 percent of the world's seaborne petroleum passes through the Gulf of Aden on its way to the Suez Canal or to regional refineries. The main ports along the gulf are Aden in Yemen, Djibouti City in Djibouti, and Zeila, Berbera, and Bosaso in Somalia.
In earlier history, the city of Crater, located just south of the modern city of Aden, was an important port in regional trade. Crater was the principal harbor of the pre-Islamic kingdom of Awsan, and after its annexation by the kingdom of Saba at the end of the 5th century, played a significant role in connecting Africa with Arabia.
India receives USD 50 billion in imports and sends USD 60 billion in exports through this area annually. Because of this and for the sake of protecting the trade of other countries, India keeps a warship escort in this area.
Read more about this topic: Gulf Of Aden
Famous quotes containing the words commerce and, commerce and/or trade:
“While the focus in the landscape of Old World cities was commonly government structures, churches, or the residences of rulers, the landscape and the skyline of American cities have boasted their hotels, department stores, office buildings, apartments, and skyscrapers. In this grandeur, Americans have expressed their Booster Pride, their hopes for visitors and new settlers, and customers, for thriving commerce and industry.”
—Daniel J. Boorstin (b. 1914)
“I leave you, home,
when I’m ripped from the doorstep
by commerce or fate. Then I submit
to the awful subway of the world....”
—Anne Sexton (1928–1974)
“The girl must early be impressed with the idea that she is to be “a hand, not a mouth”; a worker, and not a drone, in the great hive of human activity. Like the boy, she must be taught to look forward to a life of self-dependence, and early prepare herself for some trade or profession.”
—Elizabeth Cady Stanton (1815–1902)