International trade, finance and transport

In keeping with the recent trend, international trade again exceeded world output in 1994, rising in volume by close to 9 per cent, mainly due to expansion of trade in manufactures. The prices of many non-oil commodities rose sharply during the year, partly because of an upsurge in demand but also because of speculative trading and a declining dollar. The United States and Western Europe received a strong impetus from exports, especially to the developing countries in East and South-East Asia and Latin America. Although Africa showed a slight improvement in terms of trade, long-term development performance remained depressed by commodity dependence, poor infrastructure, overindebtedness, low levels of domestic investment and caution by foreign investors, as well as by political instability and conflicts.

Related Subject(s): United Nations
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