Trade Patterns of LEDCs

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  • Trade Patterns of LEDCs
    • LEDCs have a decreasing share of world trade and control only about 20%. Only the NICs have a large amount of trade with MEDCs. Examples are South Korea, Taiwan and Brazil
    • These countries have rapidly increased their exports of manufactured goods to MEDCs
    • Most LEDCs have a trade deficit, they import more than they export and do not belong to trading blocs
    • Many LEDCs exports primary unprocessed products or raw materials and foodstuffs which are sold at low and fluctuating prices.
    • A total of 50 LEDCs depend on only 3 products for half of their export earnings; coffee, cotton and cocoa
    • The trade gap between MEDCs and LEDCs is becoming wider as trade becomes more unbalanced

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