Trade
The Indian Ocean provides major sea routes connecting the Middle East, Africa, and East Asia with Europe and the Americas. It carries a particularly heavy traffic of petroleum and petroleum products from the oil fields of the Persian Gulf and Indonesia. Large reserves of hydrocarbons are being tapped in the offshore areas of Saudi Arabia, Iran, India, and Western Australia. An estimated 40% of the world's offshore oil production comes from the Indian Ocean. Beach sands rich in heavy minerals, and offshore placer deposits are actively exploited by bordering countries, particularly India, South Africa, Indonesia, Sri Lanka, and Thailand.
Due to the relatively high traffic of petroleum tankers, piracy off the Somali coast has been rising. This has been a threat to international shipping since the second phase of the Somali Civil War in the early 21st century.
Read more about this topic: Indian Ocean
Famous quotes containing the word trade:
“The most conservative man in the world is the British Trade Unionist when you want to change him.”
—Ernest Bevin (1881–1951)
“Though I have locked my gate on them
I pity all the young,
I know what devil’s trade they learn
From those they live among,
Their drink, their pitch and toss by day,
Their robbery by night....”
—William Butler Yeats (1865–1939)
“Killers, huh? I’d trade the pair of you for a good Camp Fire Girl.”
—Daniel Taradash (b. 1913)