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The State of Food and Agriculture 2001

image of The State of Food and Agriculture 2001

In addition to the usual review of the recent world food and agriculture situation, each issue of The State of Food and Agriculture has included one or more special studies of problems of longer-term interest. This year’s edition features a review of the existing evidence on the link between nutrition and productivity and economic growth.

English

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The global economy and agriculture

During 2000 there was a further strengthening of the economic recovery that had already manifested itself in 1999, after the global slowdown caused by the financial crisis in Asia in 1997 and 1998. World GDP was expected to grow by 4.7 percent, reflecting stronger economic activity in most regions of the world. Despite the higher economic growth, inflation rates edged up only modestly in response to higher energy prices. Growth in the volume of world trade, which had slowed to 4.3 percent in 1998 and increased to only 5.1 percent in 1999, is also expected to have gained strength to a rate of about 10 percent in 2000. The steep increase in oil prices influenced economic performance worldwide, although the shock was absorbed relatively well at the global and regional levels. However, net oil importers faced significant increases in their import bills which, for the poorest of them, translated into pressure to reduce other imports, domestic consumption and investment.

English

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