1945

The international economy expanded in 1994, owing to the impressive recovery of growth rates in the industrialized countries following four years of slow growth, and to control of inflation, with the lowest rates seen in the past three decades. World trade expanded notably after the previous year's modest showing, while commodity prices rose significantly, in contrast to the declining trend of preceding years. This favoured Latin American exports, which consist largely of raw materials. These trends have generally continued in 1995, although the rate of growth is tending to slow.

Related Subject(s): Economic and Social Development
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