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Economic and Social Survey of Asia and the Far East 1966

image of Economic and Social Survey of Asia and the Far East 1966

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.

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Industrial developments

The index of industrial production in the developing ECAFE countries for the first three quar ters of 1966 rose by 5.6 per cent over the corresponding period in 1965. This is slightly more than half the rise of 10.2 per cent during the same period in 1965. This drop in the growth of industrial production could be ascribed mainly to the slackening of industrial activity in India, which was the direct result of the stagnation of agricultural production and the continuing shortage of foreign exchange. In spite of the rapid growth in the other developing countries, India’s low performance accounted for the decline in the figure for the growth rate of the region as a whole, since India’s industrial production represented about half of the total output in the developing ECAFE region.

English

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