The World - News from July 25, 1988

Industrial production and trade in the Soviet Union both rose in the first six months of this year, the government reported. Figures issued by the State Statistics Committee and published in the official media showed that industrial production rose 4.7% in the period, while trade was up 5% to $110.8 billion, compared to the same period last year. Despite the gains, “the restructuring of foreign economic activity is being accomplished too slowly,” the report added. It said imports rose by 7% and exports by 3%, with oil and gas continuing to make up the bulk of Soviet exports. Production of consumer goods rose by 7% to a total of $275 billion at retail prices, it said.