World Economic Situation and Prospects 2006

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The World Economic Situation and Prospects (WESP) is the definitive report of the United Nations on the state of the world economy. One of the most highly anticipated economic reports from the United Nations, it is jointly produced by the Department of Economic and Social Affairs, the United Nations Conference on Trade and Development and the five United Nations Regional Commissions. It provides an overview of recent global economic performance and short-term prospects for the world economy and of some key global economic policy and development issues.



International trade

Along with global output, growth of world merchandise trade decelerated moderately in 2005. After peaking at a growth rate of 11.0 per cent in 2004, the expansion in the volume of merchandise exports slowed to 7.1 per cent in 2005. In dollar value terms, world trade increased by 12.9 per cent in 2005. Prices of merchandise exports grew by 5.5 per cent, mainly reflecting higher prices for primary commodities, as the average price of traded manufactures remained flat in the year.


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