Introduction

Economic developments in the ECAFE region were dominated during 1952 by strongly conflicting tendencies. On the one hand, this Survey gives ample evidence of an advance in the physical volume of production if one takes the region as a whole. Output of foodstuffs was somewhat higher in 1951/52 than in the preceding year, inspite of the 1951 drought in important areas of India, and there is reason to believe that this increase will continue in 1952/53 under the stimulus of higher prices and of intensified development in the field of food production. Similarly the production of raw materials has expanded, though there has been an incipient decline in the case of a few commodities (particularly rubber). Industrial expansion made headway, helped by the provision of new equipment and by more ample supplies of basic materials. True, this advance was uneven and there were signs of a slowing down of the pace in two of the main centres of manufacturing (Japan and India). Yet, as far as physical output is concerned, on balance the factors making for growth have predominated. They were supported by the continuing inflow of foreign aid funds and loans, and by technical assistance.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities