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World Economic Survey 1962

image of World Economic Survey 1962

Part one: The Developing Countries in World Trade, presents the first series of papers prepared for discussion at the second session (May-June 1963) of the Preparatory Committee for the United Nations Conference on Trade and Development, to be convened in 1964. These papers addressed the broad issue of trade as an instrument for economic development of the developing countries. Part two: Current Economic Developments, the advances in production during 1962 were more moderate than in earlier years in many parts of the world, and frequently disappointed expectations. The rising trend in output, however, was well maintained in the early months of 1963, and the immediate outlook continued to be generally favourable. For the underdeveloped countries, the recovery from recession in North America, combined with some restocking in western Europe, favoured their export trade in 1962.

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Recent trends in the centrally planned economies

Industrial production continued to increase in 1962 at high rates in all the centrally planned economies of eastern Europe. These increases, moreover, were generally higher than the rates of expansion planned for this year, though in some countries the pace of advance was slower than in the preceding year. Agricultural production, strongly influenced by unfavourable weather, however, declined in several eastern European countries; it increased only slightly in others. A significant change in agriculture took place in mainland China, where production increased substantially after two years of very low levels of output.

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