Word: exportability
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Dates: during 1970-1979
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Other economic figures released last week looked like a collection of statistics from the depths of a recession-but they were for January, the coldest month in 177 years in the eastern two-thirds of the nation. Exports fell almost $1.7 billion below imports, the worst one-month trade deficit ever: shippers could not get export goods out through frozen ports, and more oil had to be imported to keep homes warm. The index of leading indicators-those figures that usually foretell the course of the economy-dropped 1.2%, and factory orders fell 2.1%. The figures, says one Government analyst...
...burning off natural gas, a fuel that has become painfully scarce in many parts of the U.S. Equally bounteous reserves of gas exist in many other parts of the world, from Soviet Siberia to the marshy fields of Holland-and several of the nations with the biggest reserves must export gas if they are to tap the potential wealth, because their populations are too small to use all they have (see chart). Yet apart from a trickle of imports flowing in by pipeline from Canada, the gas deposits in most other countries might just as well be on Mars...
...making plans to cash in on the rich American market. For example, Saudi Arabia recently decided to pipe its gas instead of simply flaring it off. To get the job done, the Saudis signed a $7.5 billion contract with the Arabian American Oil Co. (Aramco), which eventually intends to export gas to the U.S. Iran is sinking $6 billion into liquefaction plants and a fleet of 35 LNG carriers to ship gas to its American and European markets beginning...
...bananas, the main staple for both food and (in distilled form) liquor. Corn, tapioca and yams also help ensure enough food for survival. But apart from the soil, not much of anything works today in Idi Amin's Uganda. Coffee and cotton were Uganda's chief export crops, but Asian and European marketing expertise has gone, and exports have declined drastically. At a time when coffee is at world-record high prices, 2 million bags of it are stockpiled in Kampala awaiting buyers. "They can still grow export crops," says a U.N. agronomist, "but uncertain delivery dates...
...Greek Cypriots in the south are hardly less fearful, but they have reacted to defeat with astonishing resilience. From the new Greek-Cypriot airport at Larnaca, planes take off daily with businessmen seeking export sales of clothes, plastics and wines. Many Greeks lost factories and homes in the north, but they are hustling so hard that per capita income in the Greek part of the island is back to its pre-1974 level ($1,200 per year). Businessman Theo Hadjilambrou, 38, says jokingly, "When we Greek Cypriots see one of our group living a little better, the others work...