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Soviet-American trade peaked in 1979 at US$4.5 billion, exactly 1 percent of total United States trade. The Soviet Union continuously ran a trade deficit with the United States in the 1970s and early 1980s, but from 1985 through 1987 the Soviet Union cut imports from the United States while maintaining its level of exports to balance trade ...
Bilateral trade agreements often aim to keep trade deficits at minimum by keeping a clearing account where deficit would accumulate. The Soviet Union conducted bilateral trade with two nations, India and Finland. On the Soviet side, the trade was nationalized, but on the other side, also private capitalists negotiated deals.
The Soviet Union's relatively medium consumer sector accounted for just 60% of the country's GDP in 1990 while the industrial and agricultural sectors contributed 22% and 20% respectively in 1991. Agriculture was the predominant occupation in the Soviet Union before the massive industrialization under Soviet general secretary Joseph Stalin.
A membership card of the All-Union Central Council of Trade Unions of the USSR. The slogan was that "the trade unions are a school of communism.". Trade unions in the Soviet Union, headed by the All-Union Central Council of Trade Unions (VTsSPS or ACCTU in English), had a complex relationship with industrial management, the Communist Party of the Soviet Union, and the Soviet government, given ...
From January 1, 1991, the countries shifted their dealings with one another to a hard currency market basis. The result was a radical decrease in trade with one another, as "(Central and) Eastern Europe… exchanged asymmetrical trade dependence on the Soviet Union for an equally asymmetrical commercial dependence on the European Community." [33]
The Union of Soviet Socialist Republics [r] (USSR), [s] commonly known as the Soviet Union, [t] was a transcontinental country that spanned much of Eurasia from 1922 to 1991. During its existence, it was the largest country by area , extending across eleven time zones and sharing borders with twelve countries , and the third-most populous country .
If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are per se ...
Territories of the Soviet Union and Nazi Germany until 1937. After the Nazis rose to power in Germany in 1933, relations between Nazi Germany and the Soviet Union began to deteriorate rapidly. Trade between the two sides decreased. Following several years of high tension and rivalry, the two governments began to improve relations in 1939.