The international economy

Along with the recovery in world output growth in 1999, international trade strengthened, although with some lag. International trade grew slowly during the first half of the year, with significant declines in some regions as many economies, especially in Asia and Latin America but also among the economies in transition, continued their post-crisis adjustment by cutting import demand. As the recovery progressed and economic activity in more and more economies began to rise, international trade revived rather strongly in the second half of 1999. The present outlook is for the growth in international trade to continue to rise in 2000-2001.

Related Subject(s): Economic and Social Development
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