text: g;ronth of many developing countries, especially lhe least developed among them. 306. In retrogpect, the world trading environment in tbe first Development Decade rras exceptionally favourable. l'he 1960s represented a period of rapid and v'idespread grovtth in economic activity and world trade, of relati.vely 1o$ inflationtnd relatively stable comoodlty prices and of reduced trade barriers and expandingA/ 40 / 5L9 EngL i sh Paqe 144 cransfers of real resources to the deveroping countries. rn this environment., thedeveloping countries boosted the .rate of grovrth of thelr exports from the3 per cent a year during the previous decade to over ? per cent a year during the1960s (see table 54 betow). Thia overall average conceals wide variations in theexport performance of separate groups of aleveloping countries, as exports of fuelsand of manufactures from the petroleum-expor ting and the newLy industrializingeconomies gren rapidly while those of industrial raw materials and foodstuffs fromother groups of developing economies increased at a ouch slower rate. whileprtmary products of aII kinds sold mainly to the developed market economiesrepresented the preFonderant source of exports receipts in all developlng countryregions (see table 55 below), ioports lnco the areveroping countries consi.sted ofmore than 50 per cent of manufactured goods purchased from developed marKeteconomj.es (see table 56 below). Table 54. Average rate of growth of exports and imports of goods and non-factor servlces durlng the development decades (Percentage) Economy groupr96l-1970 Exports Impor ts1971-1980 Exports Imports19 81-19I3 Export6 Imports World market econonies Developed market economies USSR and Eastern European countr ies Developing rna rk et economres I€ast develop€d economies8.4 6-2 9.3 7.9 4.88.3 8.8 8.1 6.0 J. T5.8 6.r 6.8 3,6EO 4.9 6.8 8.9 3.83.8 1.9 4.6 -0.r 2.63.0 0.9 r.3 2.9 Memorandum i ten: Target rates of growth of expor ts and imports forthe developing countr ies as a group7.5
analysis: The text appears to be discussing the economic growth and trade patterns of developing countries, specifically their exports and imports, and the favorable trading environment in the 1960s. It highlights the rapid growth of exports, particularly in the petroleum-exporting and newly industrializing economies, and the significant share of manufactured goods imported from developed market economies. The text also mentions the target rates of growth for the developing countries as a group.