1945

International trade, finance and transport

In 2004, international trade continued to grow, with the volume of world merchandise trade increasing markedly by an estimated 10.5 per cent, from 6.2 per cent in 2003. As manufacturing gathered pace and domestic demand improved in more economies, the brisk economic environment further raised the prices of commodities and manufactures, resulting in a nearly 19 per cent increase in the dollar value of global trade, to $8.6 trillion. Although developed countries, particularly North American States and Japan, accounted for much of the growth, many developing countries and economies in transition also experienced remarkable trade performance.

Related Subject(s): United Nations
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