A period of large trade deficits and improper real estate investment hit Bulgaria hard during the late-2000s recession, resulting in a 5. 5 % GDP decline in that period, a rise in unemployment, and spending at least five quarters in its worst recession since the early 1980s.

The sixth UN conference on trade and development in Belgrade, 6 – 30 June 1983 was held against the background of earlier UNCTADs which have substantially failed to resolve many of the disagreements between the developed and developing countries, and of a world economy in its worst recession since the early 1930s.

Considered by some economists to be a rare and extreme form of recession, a depression is characterized by its length ; by abnormally large increases in unemployment ; falls in the availability of credit, often due to some kind of banking or financial crisis ; shrinking output as buyers dry up and suppliers cut back on production and investment ; large number of bankruptcies including sovereign debt defaults ; significantly reduced amounts of trade and commerce, especially international ; as well as highly volatile relative currency value fluctuations, most often due to devaluations.

For example, whereas one of the benefits of the gold standard is that the intrinsic limitations to the growth of the money supply by the use of gold or silver would prevent inflation, if the growth of population or increase in trade outpaces the money supply, there would be no way to counteract deflation and reduced liquidity ( and any attendant recession ) except for the mining of more gold or silver under a gold or silver standard.

Peel came to office during an economic recession which had seen a slump in world trade and a budget deficit of £ 7. 5 million run up by the whigs.

Although the maquiladora industry suffered due to the early 2000s recession, maquiladoras constituted 54 % of the US-Mexico trade in 2004, and by 2005, the maquiladora exports accounted for half of Mexico's exports.

The mid-year recession had significantly curbed the growth in imports ; but because exports continued to fall, the trade deficit reached a record billion dollars in 1975, nearly depleting foreign exchange reserves.

The Labour leadership's inability to work with trade unions, coupled with a world recession, resulted in the election in 1979 of a right-wing Conservative government headed by Margaret Thatcher.

During the global financial crisis, Malaysia faced a strong recession and reduced levels of trade throughout the South Asian region.

For instance, an increased trade deficit may trigger an economic recession, which in turn creates unemployment and reduces domestic production.

In 1765 Thomas Bennet bought the premises from Lloyd subject to a mortgage to the Wilson family but neglected the building during years of trade recession and competition from other mills in Derby and Cheshire.

The works were extended several times over the next forty years, but the iron trade went into recession and it closed in 1877.

At times England enjoyed huge military success, with the economy buoyed by profits from the international wool and cloth trade, but by 1450 the country was in crisis, facing military failure in France and an ongoing recession.

Between 1440 and 1480, however, Europe entered a recession and England suffered the Great Slump: trade collapsed, driving down agricultural prices, rents and ultimately the acceptable levels of royal taxation.

Unfortunately, the instability of his career made him increasingly susceptible to the effects of a trade recession, inflation and food shortages, and he was soon reduced to part-time mending work on the outskirts of town.

Economist Mark Zandi of Moody's Analytics wrote that various factors had kept interest rates low globally in the years CDO volume grew, because of fears of deflation, the bursting of the dot-com bubble, a U. S. recession, and the U. S. trade deficit.

However by the time that Ashford had delivered the first five sets of frames in early 1930 a severe trade recession meant that they were no longer needed.

Progress was initially slow due to a trade recession in the early 1840s, but there was a revival in 1843 and the first furnace at Tondu was blown-in in 1844.

Traditional Victorian era ' Dublin pubs ' such as Doyle's, Smith's, Mc Geough's ( formerly a Geoghegan pub ) and The Hut still trade briskly, recession not withstanding.

The CGT endorsed Menem's 1995 re-election campaign ; but following a sharp recession, the CGT, CTA and MTA reacted jointly in mid-1996 with two general strikes against the government's neoliberal policies, whose emphasis on free trade and sharp productivity gains they believed responsible for the highest unemployment rates since the great depression.

It opened on 23 October 1990, replacing the recently closed stores in nearby towns West Bromwich and Dudley ; the retailer had hoped that its Merry Hill store could co-exist with the West Bromwich and Dudley stores, but the onset of the recession and a general downturn in trade in these towns led to the closure of both stores on 25 August 1990.

Some officials thought that a new round of multilateral trade negotiations could help a world economy weakened by recession and terrorism-related uncertainty.

Olivier Long helped keep the Western world moving toward freer trade in the 1970s despite protectionist pressures brought on by soaring oil prices, inflation and recession.

During the Crisis of the Third Century, when trade declined precipitously, Leptis Magna's importance also fell into a decline, and by the middle of the fourth century, large parts of the city had been abandoned.

Recent archaeological discoveries have revealed cultural and economic relationships between the Hernici and the Etruscans around the 7th century BC, perhaps it was commercial center, which conducted trade with Magna Graecia.

The Greeks were the first to establish a system of trade routes in the Balkans, and in order to facilitate trade with the natives, between 700 BC and 300 BC they founded a number of colonies on the Black Sea ( Pontus Euxinus ) coast, Asia Minor, Dalmatia, Southern Italy ( Magna Graecia ) etc.

For southeastern Louisiana, Mobile was the principal post, and it was to furnish supplies for trade to the north and east, in the region threatened by British traders.

But they brought back few pelts to pay their debts, and soon French trade in the region was at an end.

Portuguese explorer Paulo Dias de Novais founded Luanda in 1575 as " São Paulo de Loanda ", and the region developed as a slave trade market with the help of local Imbangala and Mbundu peoples who were notable slave hunters.

The North American fur trade relied on birch-bark canoes, York boats, and Red River carts on buffalo trails to move furs out of, and European trade goods in to, the region.

Its position as the Asia-Pacific gateway resulted in the settlement of the province by people of Asian descent, making it one of the most diverse and multicultural areas of Western North America, as well as helping start trade, cultural and diplomatic relations between Canada and the Asia-Pacific region.

Control over the trans-Saharan trade routes that passed through the region formed the economic basis of these kingdoms.

Cambodia enjoyed a brief period of prosperity during the 16th century because its kings, who built their capitals in the region southeast of the Tonle Sap along the Mekong River, promoted trade with other parts of Asia.

Costa Rica's distance from the capital in Guatemala, its legal prohibition under Spanish law to trade with its southern neighbors in Panama, then part of the Viceroyalty of New Granada ( i. e., Colombia ), and the lack of resources such as gold and silver, made Costa Rica into a poor, isolated, and sparsely inhabited region within the Spanish Empire.

Costa Rica has sought to widen its economic and trade ties, both within and outside the region.

Greek trade networks spread throughout the Mediterranean region, while Roman trade expanded with the main goal of directing tribute from the colonized areas towards the Roman metropole.

Since the Treaty of Tordesillas the shipping and trade in the Atlantic region was divided between the two Catholic countries, Spain and Portugal.

Ecuadorians often describe the country as a series of " micro-environments " and economic-cultural regions that are reflected in the country's cultural and geographic diversity of coastal fishing and trade ( with Guayaquil as a port ), highland Quichua-speaking peoples ( with Quito as a center, and the Amazon or jungle region, with several indigenous populations continually facing intrusions by " colonos " ( colonists ) seeking to use land for farming including palm oil, or for oil and resource exploitation.

There is also Asia Pacific Economic Cooperation ( APEC ) was established in 1989 with the vision of achieving stability, security and prosperity for the region through free and open trade and investment.

It is also believed that the region had early trade contacts with Mesopotamia.

Occasionally, El Niño's effect on the Atlantic Walker circulation over South America strengthens the easterly trade winds in the western equatorial Atlantic region.

The large inflow of official assistance to FSM allows it to run a substantial trade deficit and to have a much lighter tax burden than other states in the region ( 11 % of GDP in FSM compared to 18 %- 25 % elsewhere ).

The slave trade came to the coastal region of Guinea with European adventurers in the 16th century.

The expansion of trade occurs after the Portuguese reach this region in 1446, bringing great wealth to several local slave trading tribes.

Britain's interest in the region declined since the end of the British slave trade in 1807.

The Göktürks, under the leadership of Bumin Qaghan ( d. 552 ) and his sons, succeeded the Rouran as the main power in the region and took hold of the lucrative Silk Road trade.

The charter granted the company a monopoly over the Indian Trade, especially the fur trade, in the region watered by all rivers and streams flowing into Hudson Bay in northern Canada.

The company's effective monopoly on trade virtually forbade any settlement in the region.

In 1870, the government abolished the HBC monopoly and opened trade in the region to any entrepreneur.