Economic Survey 1992

Th e rate of growth of the major industrial countries fell from 2.2 per cent tin 1990 to 0.9 per cent in 1991, owing to the recession in industrialised economies and a decline in the output of most developing countries . Available indicator s reveal that the growth rate of the world economy i s expected to show a moderate recover y to 2.8 per cent in 1992. Th e world trad e ma y grow by 5.7 per cent in 1992 compare d to the growth of 3.3 per cent witnessed in 1991.