Economy (Indian Ocean)
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Overview:
The Indian Ocean provides a major highway for the movement of petroleum
products from the Middle East to Europe and North and South American
countries. Fish from the ocean are of growing economic importance to many of
the bordering countries as a source of both food and exports. Fishing fleets
from Russia, Japan, Korea, and Taiwan also exploit the Indian Ocean, mainly
for shrimp and tuna. 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.
Industries:
based on exploitation of natural resources, particularly marine life,
minerals, oil and gas production, fishing, sand and gravel aggregates,
placer deposits
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