International trade, finance and transport

In 2002, world trade reversed the decline of 2001, with preliminary estimates indicating growth of almost 2 per cent. Apart from the United States and some developed economies, imports recovered in only a few countries; import expansion in the developing countries, at only 1.8 per cent, was largely centred in China and East Asia. The revival of import demand in the United States boosted exports from Japan and East Asia and also accelerated the growth of exports of countries with which the United States held free or preferential trade agreements. The recovery in international commodity prices was modest, affecting exports from Africa.

Related Subject(s): United Nations