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Rapidly worsening outlook for the world economy, underpinned by rising food, fuel and fertilizer prices, heightened financial volatility, sustainable development divestment, complex global supply chain reconfigurations and mounting trade costs.
According to @UNCTAD
According to @UNCTAD
The impact of #WarInUkraine.
The developing situation is alarming for developing countries, & especially for African and least developed countries, some of which are particularly exposed to the war in Ukraine & its effect on trade costs, commodity prices and financial markets.
The developing situation is alarming for developing countries, & especially for African and least developed countries, some of which are particularly exposed to the war in Ukraine & its effect on trade costs, commodity prices and financial markets.
The risk of civil unrest, food shortages and inflation-induced recessions cannot be discounted, particularly given the fragile state of the global economy and the developing world as a result of the COVID-19. The crisis’ effect on the food front is particularly worrying.
Some countries are particularly dependent on agrifood commodities coming from the Russian Federation and Ukraine.
For example, the share of imports from the Russian Federation and Ukraine – as a percentage of total imports of wheat, corn, barley, colza, sunflower oil and seeds
For example, the share of imports from the Russian Federation and Ukraine – as a percentage of total imports of wheat, corn, barley, colza, sunflower oil and seeds
Is 26% for Turkey, 23% for China and 13% for India. Troublingly, lower income countries are the most exposed. Based on UNCTAD calculations, on average, more than 5% of the import basket of the poorest countries are products that are likely to face a price hike
UNCTAD assessment more than 5 per cent of the import basket of the poorest countries are products that are likely to face a price hike resulting from the ongoing war in Ukraine. The share is below 1 per cent for richer countries.
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