P.M. Briefing : Soviet ’88 Foreign Trade Stagnates

Foreign trade failed to make headway in 1988 due to production of shoddy goods, a fluctuating international economy and a failure of joint ventures to perform as expected, a newspaper said today.

“Last year did not see any considerable rise in Soviet foreign trade, estimated at 132 billion rubles ($213.8 billion),” the Government Herald said.

It said a drop in prices for basic fuel and raw materials and growing protectionist trends in Western countries made international markets unfavorable for Soviet goods over the last three years.

“Meanwhile, Soviet industry continues producing planes, vehicles, tractors and agricultural machines whose specifications differ very little from previous models and which are inferior to Western types,” the Government Herald said.