Fast and Slow-Growing Products in World Trade

Anonymous

National Institute Economic Review, 1963, vol. 25, 22-39

Abstract: The pattern of world trade in manufactures is changing constantly as industrial development goes on. Indeed, the rise of new industries and the relative decline of old ones may have a more dramatic effect on the composition of world trade than on that of home output. Typically, when a new industry is established, it begins in one or two countries. For some years, these countries will be the only suppliers of the world, and exports will rise faster than production. But as the industry becomes established more and more countries will introduce it; exports of the product will begin to rise more slowly than total world exports, and some new product or group of products will take its place as the fastest-growing element in world trade.

Date: 1963
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