Financial systems and development

Table A.9 Change in export prices and terms of trade, 1965 to 1988
(average annual percentage change)
Country group 1965-73 1973-80 1980-85 1986 1987a 1988 b
Export prices
Low- and middle-income economies 6.1 14.8 -4.3 -8.3 11.5 4.8
Manufactures 6.4 8.2 -3.7 9.4 10.3 8.7
Food 5.9 8.6 -4.1 7.2 -7.4 16.1
Nonfood 4.6 10.2 -4.9 0.0 21.1 2.5
Meta]s and minerals 2.5 4.7 -4.5 -4.8 13.3 22.7
Fuels 8.0 26.2 -4.1 -46.7 22.9 -17.4
High-income OECD members
Total 4.8 10.3 -3.1 12.0 10.9 6.8
Manufactures 4.6 10.8 -2.8 19.6 13.4 8.4
Terms of trade
Low- and middle-income economies 0.1 2.6 -2.0 -9.3 1.3 1.0
Low-income economies -4.8 4.0 -1.1 -16.8 4.2 -1.6
Middle-income economies 1.7 2.1 -2.4 -6.7 0.3 1.7
a. Estimated.
b. Projected.
Sub-Saharan Africa -8.5 5.0 -2.3 -23.2 3.3 -5.3
East Asia -0.6 1.2 -0.6 -7.0 1.4 1.8
South Asia 3.7 -3.4 1.7 2.8 -2.1 5.2
Europe, Middle East, and North Africa .. .. .. ..
Latin America and the Caribbean 3.9 2.4 -1.9 -14.0 -2.1 -0.4
17 highly indebted countries 1.4 3.5 -1.3 -13.7 -0.7 -0.8
High-income economies -1.2 -2.0 -0.4 8.7 -0.1 0.2
OECD members -1.0 -3.3 -0.2 12.4 -0.2 0.7
Oil exporters 0.3 9.6 -2.2 -47.5 16.7 -17.3
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