The European Union and World Trade : EU Trade Developments for the Year 1994, Comparison with the United States and Japan

The economic recovery that started hesitantly in 1992/93 gained pace in 1994, marking the end of a long cyclical recession in most OECD countries.

Growth in North America, the Union and the rest of Western Europe exceeded expectations, and some positive signs were also evident in the Japanese economy, although the recovery still seems to be in its early stages.

In this publication, developments in EU trade are compared with developments in the US and Japan.