Economic and Social Survey of Asia and the Far East 1972

image of Economic and Social Survey of Asia and the Far East 1972

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.



General summary

In terms of GNP growth rates, the achievements of developing countries in general during the First Development Decade were by no means unsatisfactory. Their average annual growth rate from 1960 to 1970 was about 5.6 per cent, while the target set for the decade was 5 per cent. The developing countries of the ECAFE region seem to have done slightly less well, their average for 1960-1970 being 4.9 per cent. However, their growth rate did accelerate during the decade and, during the second half, an average of 5.7 per cent was reached. This acceleration of growth was caused by the break through in agriculture with the introduction of high-yielding varieties of rice and wheat.


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