Recent trends in primary producing countries

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Among the characteristics common to most of the countries dealt with in this chapter—comprising Africa, Asia (exclusive of mainland China and Japan), Latin America, and Australia and New Zealand—are the general nature and relative magnitude of their foreign trade. This trade consists to a very large extent of an exchange with the industrial countries of primary products for manufactured goods of various kinds. Though manufactures are tending to be featured more prominently among the exports of a few of the countries in the group—Argentina, Australia, Brazil, India, Mexico and the Union of South Africa, in particular— raw materials and foodstuffs continue to constitute the overwhelming hulk of exports. Similarly, though raw materials and foods, and in some instances fuels, are of major significance, both qualitatively and quantitatively, among the imports of some countries in the group, in the main their imports consist very largely of industrial goods.

Related Subject(s): Economic and Social Development
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