Recent developments and outlook

World output growth accelerated from 2.4 per cent in 1995 to 2.8 per cent in 1996. This happened despite higher oil prices and a marked deceleration in the volume growth of world trade – from 10 per cent in 1995 to 4.6 per cent in 1996. Growth in developing countries (DCs) increased from 4.8 per cent in 1995 to 5.6 per cent in 1996, with a notable acceleration of growth in Africa, where economies expanded on average at the rate of 3.9 per cent, compared with less than 3 per cent the previous year. The economies of Asian DCs continued to expand vigorously, although the average growth rate was lower than in 1995.

Sustainable Development Goals:

Peace, Justice and Strong Institutions