Economic and Social Survey of Asia and the Far East 1956

image of Economic and Social Survey of Asia and the Far East 1956

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



Malaya and British Borneo

In the economies of the Malayan area (Federation of Malaya and Singapore, Brunei, North Borneo and Sarawak), the contribution of exports to the gross domestic product usually ranges from one-third to over one-half. In 1956, the export and domestic activities of these economies were at comparatively stabilized levels, in comparison with boom conditions prevailing in 1955. The effects on their incomes of the decline in their terms of trade in 1956—the result of the fall in export prices, especially of rubber, and a small rise in import prices over the 1955 level—were largely offset by an increased volume of exports and a rise in domestic activities. These economies, with high marginal as well as average propensities to import, reacted to the high level of export earnings in 1955 and 1956 by increased imports, especially of consumer goods.


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