Word: exporters
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...squadron of F-5A fighters being phased out of the Iranian air force for newer U.S. jets. In Cairo, the Shah's experts worked out final details of a massive billion-dollar Iranian investment in Egyptian petrochemicals which will provide sorely needed fertilizer for both domestic use and export as well as plastics and synthetic fibers...
...overall sales were off "only" 13% in 1974; but they were down a thumping 30% in the company's most important export market, the U.S., which normally accounts for a third of the company's production. Mainly because of the export disaster, VW expects to report 1974 losses as high as $210 million-the first deficit that Volkswagen has shown since it was revived after World War II. Lately, VW's six West German plants have been operating at 60% of capacity, and nearly 80% of its 109,600 West German work force has been laid...
However, Mayer cited the lack of effective control over exports, continuation of export subsidies, and the dollar's devaluation as past "errors" on the part of the U.S. Department of Agriculture which severely hindered the provision of U.S. food aid assistance...
...major oil exporter through the late 1950s, but then its own demands raced so far ahead of production that it now has to import more than one-third of its supply. The nation's bill for foreign oil pyramided from $3.9 billion in 1972* to $24 billion last year. The $20 billion jump meant that Americans either had to increase their foreign debts greatly or produce and export $20 billion more in goods and services?food, steel, planes, machinery, technology?to pay for oil imports. Unless the oil price comes down or the country sharply reduces its oil imports...
...deterioration of Denmark's economy in the past year in large part has been caused by the fourfold hike in the price of imported oil (upon which 90% of the country's energy output depends). With its import prices rising twice as fast as its export prices, Denmark suffered a more than $ 1 billion balance of payments deficit in 1974. Unemployment, at a 22-year high, has cut deeply into some professions. "If you take the No. 6 bus on Thursdays," observes Architect JØrgen Andersen, 39, "it is full of architects on their...