This paper reviews recent empirical research on measures of industrial performance in world trade. Two recently developed indices, comparative advantage and competitive advantage, are used to analyze trade patterns of major rice exporting countries in the world rice market. The empirical test results conclude that there is no significant difference between revealed comparative advantage and revealed competitive advantage for the five major rice exporters. The ranking for the five exporters based on test results suggest that Burma has the greatest comparative advantage and competitive advantage in exporting rice, Thailand and Pakistan rank second, and the United States and China rank third among the five major exporters.