Policy analysis featureThe World Economy at the Beginning of 1998
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Policy analysis feature The World Economy at the Beginning of 1998
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| 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997a | 1998b | |
| World tradec | 8.0 | 7.0 | 4.7 | 4.7 | 5.5 | 4.3 | 10.2 | 8.8 | 5.3 | 9.4 | 7 |
| Volume of exports | |||||||||||
| Developed market economies | 8.1 | 7.0 | 4.9 | 3.3 | 4.0 | 2.2 | 9.3 | 7.4 | 4.1 | 8.6 | 6½ |
| of which: | |||||||||||
| North America | 15.8 | 7.8 | 6.6 | 5.0 | 6.8 | 4.8 | 10.0 | 9.4 | 5.8 | 11.7 | 7½ |
| Western Europe | 6.2 | 7.4 | 4.2 | 2.4 | 3.4 | * 2.2 | 10.6 | 7.5 | 3.9 | 6.7 | 6½ |
| Japan | 5.9 | 4.3 | 5.3 | 2.5 | 1.5 | -2.4 | 1.7 | 3.3 | 0.7 | 11.6 | 2¾ |
| Economies in transition | 4.6 | -1.4 | -9.7 | -18.4 | 8.2 | .. | .. | .. | .. | .. | .. |
| Eastern Europe | 4.3 | -2.9 | -6.2 | -9.3 | -0.1 | .. | .. | .. | .. | .. | .. |
| Former USSR | 4.9 | 0.1 | -13.0 | -27.7 | 19.1 | .. | .. | .. | .. | .. | .. |
| Developing countries | 9.2 | 9.5 | 7.2 | 11.1 | 9.6 | 8.8 | 13.5 | 14.8 | 6.5 | 11.1 | 8½ |
| of which: | |||||||||||
| Latin America & Caribbean | 7.5 | 4.6 | 5.1 | 4.7 | 6.3 | 10.3 | 9.2 | 9.9 | 9.3 | 12.9 | 9¼ |
| Africa | 2.7 | 8.0 | 6.9 | 2.3 | 1.0 | 1.8 | 4.6 | 7.8 | 9.4 | 6.6 | 6½ |
| Western Asia | 5.1 | 9.6 | 5.3 | 3.8 | 11.5 | 6.6 | 8.2 | 5.8 | 8.7 | 6.1 | 6 |
| South & East Asia | 12.8 | 11.6 | 7.4 | 16.0 | 10.7 | 10.6 | 14.6 | 18.2 | 5.8 | 10.7 | 8½ |
| China | 10.0 | 8.8 | 14.3 | 18.4 | 15.8 | 6.8 | 31.0 | 20.7 | 2.1 | 20.7 | 11 |
| Fuel exporters | 1.6 | 12.2 | 12.2 | 6.9 | 6.9 | 4.0 | 6.0 | 8.9 | 13.5 | 5.6 | 7½ |
| Non-fuel exporters | 9.2 | 9.6 | 6.4 | 13.0 | 10.9 | 8.7 | 14.9 | 18.3 | 5.1 | 12.7 | 9 |
| Volume of imports | |||||||||||
| Developed market economies | 7.3 | 7.0 | 4.5 | 2.6 | 4.4 | 1.5 | 10.9 | 7.5 | 4.7 | 9.2 | 6½ |
| of which: | |||||||||||
| North America | 5.1 | 4.3 | 1.3 | -0.9 | 7.9 | 9.6 | 12.9 | 7.8 | 5.6 | 14.6 | 7¼ |
| Western Europe | 6.7 | 7.9 | 6.3 | 4.3 | 3.4 | -2.9 | 9.2 | 6.3 | 4.2 | 6.6 | 6 |
| Japan | 17.9 | 7.9 | 5.7 | 4.0 | -0.4 | 2.9 | 13.6 | 12.5 | 3.4 | 6.3 | 7 |
| Economies in transition | -1.3 | 2.7 | 0.9 | -5.6 | -15.0 | .. | .. | .. | .. | .. | .. |
| Eastern Europe | 3.3 | 0.2 | -8.8 | 2.4 | 5.8 | .. | .. | .. | .. | .. | .. |
| Former USSR | -5.8 | 5.3 | 10.6 | -12.2 | -35.0 | .. | .. | .. | .. | .. | .. |
| Developing countries | 11.9 | 7.7 | 4.6 | 15.8 | 12.8 | 15.1 | 9.5 | 9.0 | 8.3 | 10.9 | 7¾ |
| of which: | |||||||||||
| Latin America & Caribbean | 9.6 | 4.9 | 9.4 | 20.8 | 22.5 | 10.8 | 14.4 | 4.2 | 8.4 | 20.3 | 10 |
| Africa | 6.0 | 0.5 | 3.5 | -2.2 | 6.8 | 4.4 | 5.0 | 5.4 | 6.2 | 8.4 | 6½ |
| Western Asia | -3.7 | -5.4 | 7.2 | 18.8 | 13.7 | 7.4 | -12.5 | 9.1 | 10.4 | 3.8 | 6¾ |
| South & East Asia | 20.3 | 14.8 | 6.4 | 17.1 | 9.6 | 17.3 | 14.9 | 12.5 | 7.7 | 9.7 | 6 |
| China | 15.5 | 7.7 | -16.1 | 21.5 | 23.2 | 36.4 | 9.1 | 0.0 | 11.2 | 14.5 | 15½ |
| Fuel exporters | 1.7 | -1.5 | 6.9 | 21.0 | 14.1 | 4.3 | -1.5 | -3.2 | 11.7 | 16.1 | 8¼ |
| Non-fuel exporters | 13.9 | 11.1 | 3.0 | 15.1 | 12.8 | 19.2 | 12.0 | 11.5 | 8.0 | 10.2 | 7½ |
Source: UN/DESA, based in part on data of regional commissions of the United Nations and IMF.
* Indicates discontinuity in the series.
a Preliminary estimates.
b Forecast, based in part on Project LINK.
c Average of the growth rates of the volume of world exports and imports.
Copyright © United Nations
29 December 1997