International trade and finance

The international economic environment failed to support growth in the world economy in 2001. The volume of world trade actually fell for the first time since 1982 (for comparison, trade growth averaged some 7 per cent per year in the 1990s). The fact that international prices of commodities declined, reaching historic lows in some cases, was especially difficult for many low-income commodity exporting countries. In addition, developing countries transferred almost $150 billion of financial resources abroad, as net capital inflows were far less than net interest and other investment income payments for the fifth year in a row. Significant inflows of foreign direct investment (FDI) and access to international capital markets remained limited to a restricted number of countries. Official development assistance (ODA) declined once again, although overall official financial flows to developing countries increased, mainly owing to additional support by the International Monetary Fund (IMF) to certain middle-income developing countries in difficult situations.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action