30.09.2015 - Trouble looms for developing countries as commodity revenues collapse: Kemp
Slumping commodity prices pose a serious challenge to economic and political stability in developing economies across Latin America, Africa, the Middle East and Asia. According to the United Nations Conference on Trade and Development, 94 developing countries depended on commodities for more than 60 percent of their merchandise export revenues in 2012/13. Sixty-three developing economies were considered "extremely commodity dependent" with commodities accounting for more than 80 percent of export earnings. Most commodity-dependent developing countries rely on raw material exports for more than 20 percent of their entire economic output, in some cases rising to more than 50 percent, according to UNCTAD..............................................Full Article: Source
Print