External trade and payments

Much of the ESCAP region’s economic dynamism, as reflected in the above world average rate of economic growth, has been attributed to its trade dynamism. Between 1980 and 1988, the region almost doubled the value of its exports from $US 315.4 billion to $US 629.7 billion. The developing economies did a little better. Their earnings went up from $US 157.6 billion to $US 323.1 billion while those of the three developed countries went up from $US 157.9 billion to $US 306.5 billion. In 1989, the total exports from the region rose further to $US 669.6 billion, the developed and the developing economies exporting $US 321.0 billion and $US 348.6 billion respectively. Indeed, the economies of the region experienced accelerated rates of trade and economic growth during the second half of the 1980s. All countries, however, did not share equally in these expansions.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities