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Charlotte Denny Friday May 3, 2002 The Guardian International trade went into reverse last year for the first time in nearly 20 years as recession in the world's three largest economies took its toll on exports, the World Trade Organisation said yesterday. After rising 12% to a record level in 2000, export volumes fell by 1% last year and in value terms dropped 4% to $6 trillion (£4 trillion) from $6.2 trillion - another record - in 2000. In a preliminary assessment last October the WTO said that, despite the global downturn, trade would be up about 2% on the previous year. Blaming the decline on the bursting of the dotcom bubble, terrorist attacks on the US and Europe's descent into recession following the American slump, the WTO said trade was unlikely to stage more than a sluggish pickup this year. Of the three factors, the IT industry's woeful state was the most serious, the WTO said. Global sales of semiconductors fell 30% last year and worldwide shipments of personal computers fell 4.6%, the first time since 1985 that PC sales have declined. East Asian countries such as Singapore, South Korea, Taiwan, Japan and Malaysia, and the United States - all heavy traders in IT and related products - saw the sharpest export falls. Taiwan reported a drop of 17%, and Japan, Singapore and the Philippines were down 16%. Malaysia fell 10%. Of the leading economies, recession hit Japan hardest, with a 17% decline in exports, while the US recorded a 7% fall and Britain 4%. The European Union as whole escaped relatively lightly, with exports flat. China was the only large trader to increase its exports, by a healthy 7%. Others that stood out were some former European communist economies: the Czech Republic boosted exports by 15% and Poland was up 12%. Special reports Global recession Attack on America Recession roll call Company job losses around the world Explained 04.01.2001: Recession Useful links US Federal Reserve . . Matter in Motion through Space and Time ... http://www.egroups.com/group/Communist-Internet ] [Subscribe: [EMAIL PROTECTED] ] . . --------------------------- ANTI-NATO INFORMATION LIST ==^================================================================ This email was sent to: archive@jab.org EASY UNSUBSCRIBE click here: http://topica.com/u/?a84x2u.a9617B Or send an email to: [EMAIL PROTECTED] T O P I C A -- Register now to manage your mail! http://www.topica.com/partner/tag02/register ==^================================================================
