High trade growth for least-developed countries

The value of the total exports of least-developed countries (LDCs) including goods and commercial services, grew by 23.9 per cent in 2011 to reach US$229.8 billion, according to the World Trade Organisation (WTO). However, the LDC coordinator in the WTO, pointed out that “a lot remains to be done”. LDCs’ exports of manufactured goods and commercial services expanded by 24.8 … Continue reading

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The slowdown in global demand has reduced growth in OECD countries

Real GDP growth in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.4% in the first quarter, according to figures released this morning by the OECD. In terms of the contributors to growth, the figures show that private consumption contributed 0.1 percentage point to GDP growth, compared with 0.3 percentage point in the previous … Continue reading

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World trade is being hit by the slowdown in global growth

The World Trade Organisation (WTO) has just slashed its forecasts for world trade expansion for this year to 2.5% from their previous forecast of 3.7% made in Arpil. Similarly their forecasts for 2013 have been reduced to 4.5% from 5.6%. “In an increasingly interdependent world, economic shocks in one region can quickly spread to others. Recently announced measures to reinforce … Continue reading

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How can Africa’s agriculture boost development through trade?

Why has Africa become a net food importer? This was the question raised by Pascal Lamy, director general of the World Trade Organisation, at a conference entitled “Harnessing Agriculture for Development through Trade” yesterday. This conference was based on a publication produced by the CUTS International resource centre. Lamy pointed out that Africa became a net-food importer in the 1980s, … Continue reading

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The truth about global exports

When we try to explain Ricardo’s theory of comparative advantage we invariably use a two country, two product example. Two hundred years ago, when Ricardo first put forward his theory of international specialisation and trade, it was really that simple. We produced something wholly within our country and sold it to their country. They produced something different, completely within their … Continue reading

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