Trade between Asia and the rest of the world is increasing sharply. As the whole of Asia now accounts for about 26 per cent of world merchandise exports. Asia is also a favourite destination for imports. As Asia's purchasing power grows, imports into Asia are on the rise. Almost all regions have increased their exports into Asia in the last few years.India buys merchandise from all corners of the globe. But its share in the exports of other countries is very small. For instance, India accounts for only 0.5 per cent of the exports achieved by the North American region. Overall Asia accounts for 31.1 per cent of the exports of North America. India buys less from poor transition economies. Its relationship with Africa is better with about 3 per cent of the exports coming to India out of the 12 consumed by Asia.