58 SOCIAL SCIENTIST constitute a smaller share in world exports: in fiscal 1966 their share dropped by 20 per cent. Between 1953 and 1967 the developing countries' share in the total volume of world trade dropped from 27 to 19 per cent, and there was also a drop over the same period in their share in the world trade in raw materials and semi-manufactured goods from 54 to 42 per cent. The drop in prices for raw materials and semi-manufactued goods from the developing countries and the shrinking of their share in world trade in these two fields can also be accounted for in part in the expanding production of artificial substitutes for natural raw materials as a result of technological revolution which has practically passed the developing countries by. Other circum^ stances also foster non-equivalent exchange—the correlation of prices on local and world markets, and competition between the various groupings of imperialist powers on which, to varying degrees, the developing countries depend. Deficits and Dumping All these factors affect the trading record of the developing countries. While the developing countries' trade with imperialist powers showed a favourable balance (approximately 4500 million dollars) in 1951-56, over the following five years 1957-62 it showed a deficit of 8350 million dollars» The deficit remained at approximately the same level in subsequent years. Typically enough the prices for raw materials from the leading capitalist powers remained virtually unchanged. The following facts testify to the scale of the plunder effected by the imperialist monopolies by means of various forms of non-equivalent exchange: in 1959 alone the countries of Latin America lost close on one thousand million dollars in their trade with USA, and in 1960 and 1965 these countries have been losing approximately 1500'million dollars annually in their trade with-the United States^ while their losses incurred in trading raw materials and agricultural produce with western Europe and America during those five years made up a sum equivalent to the total economic aid they received over the same period. Thus the industrially developed capitalist countries profit from their trade with developing countries, while the latter incur tremendous losses as result of this trade. Japan's exports to Nigeria in 1965 exceeded her imports from that country 10.8 times, the respective increase for her trade with Ethiopia, Kenya, Tanzania and Uganda being 4.1, 3.8, 2.4 and 1.8 times/The deficit in Mexico's trade balance in 1965 came to 402 million dollars and that of the whole of Latin America for 1961 and 1962 came to approximately a thousand million, while according to estimates by' the well-known economist Victor Urquidi it reached no less than 1520 million dollars by 1970. Other neocolonialist practices in foreign trade relations have a no less adverse effect on the economy of developing countries, particularly dumping. The practice not only serves to disorganize the internal markets of developing countries but also leads to sharp fluctuations in agricultural