The Commonwealth in World Trade

Nineteen seventy was a remarkably favourable year for world trade as a whole and a good one for Commonwealth trade as well. Commonwealth exports rose by £2,800 million f.o.b. to record a rate of growth only a little less than the exceptional 14 per cent advance of world exports. Even after allowing for the rise in prices on account of inflation, world trade in real terms advanced by about 9 per cent—well up to the average of recent years.


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