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Trade and Development Report 1989

image of Trade and Development Report 1989

Global output and trade expanded very rapidly last year and are continuing to grow, though at a somewhat reduced pace. The international economy is apparently in good health. However, this appearance is misleading. The growth impulses that are present are quite fragile, and will need to be actively protected.

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Trends and issues in international trade

The volume of world trade expanded by over 9 per cent in 1988. This was well above the annual rate of 3 per cent which had so far prevailed in the 1980s. Buoyant economic activity in the developed market-economy countries, particularly as regards investment, and strong growth in several developing countries of South-East Asia, were important factors contributing to their strong expansion. However, with key economies shifting towards policies of greater demand restraint, some deceleration of this recent high growth in the volume of trade is probably now under way.

English

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