LDCs Myths and Reality: In Many Respects, the Overall Picture of LDCs Often Changes for the Better When We Look at the Situation More Closely. (ITC Speaks)
Kirchbach, Friedrich Von, International Trade Forum
The market analysis undertaken by ITC for the Business Sector Round Table (BSRT) found that several generalizations about least developed countries (LDCs) are myths, presumptions based on an out-of-date reality.
Other assertions about these countries, we discovered, are true only as a statistical average, not for the regional or national case, and often not for individual businesses. In many respects, we found, the gloomy overall picture of LDCs changes for the better when looking at individual countries, sectors, industries, companies and regions, sometimes quite radically. It is often a question of perspective.
For example, the LDCs have a "marginal share... of world trade" (some 0.54% in 2000), as the Programme of Action for 2001-2010 adopted by the United Nations Conference in Brussels noted. And most of the LDCs saw their share of world trade decline significantly in 2000 unless they were oil producers.
Nevertheless, international trade is important for LDCs, and much more than many people realize. LDC merchandise exports were worth US$ 36 billion in 2000. In all, …
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Publication information: Article title: LDCs Myths and Reality: In Many Respects, the Overall Picture of LDCs Often Changes for the Better When We Look at the Situation More Closely. (ITC Speaks). Contributors: Kirchbach, Friedrich Von - Author. Magazine title: International Trade Forum. Publication date: July-September 2001. Page number: 6+. © 1998 International Trade Centre UNCTAD/GATT. COPYRIGHT 2001 Gale Group.