Commodity exports

At the close of 1958, the depressed conditions which had affected the international commodity market since the latter part of the previous year showed no clear signs of any improvement. Thus the statement in the relevant chapter of the Economic Survey of Latin America 1957 was con-firmed, namely, that the recent economic recession in the United States was merely an additional factor — though none the less important for that — in the downward trend experienced by some primary commodities as a result of the growing imbalance between world supply and demand. In fact the United States recession reached its lowest ebb in April 1958, and thereafter the majority of the indices of economic activity began to show a steady recovery. At the same time the previously pursued policy of cutting down inventories was discontinued. But, in spite of this, no substantial improvement occurred in conditions on the primary commodity market. Indeed, some commodities are now in a less favourable position than they were at the beginning of 1958.

Sustainable Development Goals:

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Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions