Chapter IV. The World Overseas

Abstract

1963 was a good year for world production and a very good year for world trade. Most industrial economies expanded quite strongly, and for the free world as a whole industrial production rose by about 5 per cent—not quite such a big rise as in 1962, but bigger than in 1961. The value of world trade increased very sharply, particularly in primary products : in the third quarter of 1963 trade was running at a level about 10 per cent higher than a year before, and there was probably another big rise in the fourth quarter.