This paper discusses that although in terms of value world trade increased at a sharp rate, the rise was in only a … oil and some other primary products, the value of world trade, rose by some 45 percent or nearly double the rate of growth …

This paper highlights the period under review was characterized by an unusually rapid increase in world trade and … stresses on the international payments system. After a downturn in the rate of expansion of world trade in 1967, there was a … restrictive import policies were adopted in other countries, which generally have a more important share in world trade …