EXPORTS TO RUSSIA
Big Increase In Value
(N.Z.P.A.-Reuter —Copyright) GENEVA, Sept. 21.
West European exports to the Soviet bloc increased in value last year by almost 25 per cent., a larger increase than in any year during the 1950'5, a United Nations report said. A report by the Economic Commission tor Europe said the increase reflected growing demands for finished steel and industrial equipment.
A fall in Soviet exports and a deficit of 280 million dollars (about £lOO million) in trade with underdeveloped countries had to be financed by large sales of Soviet gold, the report said. Unofficial West European estimates put Russian gold sales at about 200 million dollars (about £7l million).
“In the early months of this year the value of such sales appears to have been higher still—at an annual rate,” the report said. "They should thus enable the Soviet Union to maintain its Imports from Western Europe on their present scale for some time to come without sizeable increase of exports or receipt ot credit.”
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Bibliographic details
Press, Volume C, Issue 29625, 22 September 1961, Page 8
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169EXPORTS TO RUSSIA Press, Volume C, Issue 29625, 22 September 1961, Page 8
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