World Development Report 1984

TABLE 2.7
Change in export prices and in terms of trade, 1965-83
(average annual percentage change)
Country group 1965-73 1973-80 1981 1982 1983
C!a t ;.,--p. -t prices
Developing countries
Food 6.6 7.8 -16.1 -14.1 5.2
Nonfood 3.7 10.1 -14.6 -9.4 10.3
Metalsandminerals 1.6 5.6 -12.0 -8.0 -2.2
Fuels
Industrial countries
6.7 24.7 10.5 -2.6 -14.5
Manufactures 4.7 10.9 -4.2 -1.8 -3.2
Cihange in tenns of trade
Low-income Asia -0.5 -1.4 -0.1 -1.6 -0.6
Low-income Africa -0.1 -1.5 -9.9 -0.9 4.6
Middle-income oil importers -0.6 -2.2 -5.5 -1.9 3.0
Middle-income oil exporters 1.1 8.1 9.0 -0.4 -7.0
Developing countries 0.4 1.6 -0.5 -1.2 -0.6
Note: Calculations are based on a sample of ninety developing countries.
a. Estimated.
zania, Uganda, and Zaire experienced an apprecia- ducer prices have been increased in many cases, in
tion of their real exchange rates, because relatively real terms they were lower in 1982 than in 1980 in
high rates of domestic inflation were not fully off- Kenya, Madagascar, Tanzania, and Togo. In some
set by falls in their nominal exchange rates. Even other countries-Burundi, Ivory Coast, Liberia,
countries such as Kenya, Madagascar, Mauritius, Malawi, Mali, Niger, Nigeria, and Upper Voltaand
Somalia, which did depreciate their nominal although the prices of a few agricultural commodiexchange
rates, ended up with a higher real effec- ties have been raised, those for many others have
tive rate or only a small devaluation. fallen in real terms.
The same phenomenon affected pricing policies, Governments in sub-Saharan Africa also let their
particularly in agriculture. Although nominal pro- public finances deteriorate. In countries such as
TABLE 2.8
Consumption, savings, and investment indicators for developing countries, 1970-81
(percentage of GDP)
24
Country group 1970 1973 1975 1977 1979 1981
All developing countries
Consumption 78.9 76.5 76.7 75.3 74.4 76.8
Investment 22.7 23.8 26.3 26.1 26.9 27.0
Savings 21.1 23.5 23.3 24.7 25.6 23.2
Low-income Asia
Consumption 77.1 75.0 75.7 75.5 74.2 76.2
Investment 23.7 25.6 25.7 25.1 27.7 25.8
Savings 22.9 25.0 24.3 24.5 25.8 23.8
Low-income Africa
Consumption 86.6 88.6 92.5 91.0 91.5 94.1
Investment 15.5 15.1 16.4 17.9 16.9 16.6
Savings 13.4 11.4 7.5 9.0 8.5 5.9
Middle-income oil importers
Consumption 79.5 77.5 79.1 77.1 77.9 79.2
Investment 23.6 24.4 26.7 25.4 25.7 25.3
Savings 20.5 22.5 20.9 22.9 22.1 20.8
Middle-income oil exporters
Consumption 79.1 74.6 72.6 70.8 67.5 72.1
Investment 20.5 21.7 27.0 28.9 29.2 31.4
Savings 20.9 25.4 27.4 29.2 32.5 27.9