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The world economy of 1975 can be described as a process of recovering from the longest and the worst recession during the post-war period. The advanced industrial countries took antirecession measures from the middle to the end of the year. The real recovery of business conditions in the advanced countries, including Japan and West Germany, was promoted by increasing export demands, which are accounted by the U.S.A.'s recovery from the recession, etc.
The international passenger transport, incoming as well as outgoing, were
steady. The international cargo transport fell, in export as well as import,
below the level of the preceding fiscal year in terms of monetary value and
volume (Table 1-1-1). The Japanese
balance of payments in overall noted an appreciable decrease of the red. In
the transport field, a deficit in non-trade account was declared in ocean vessels,
aircraft and travel. However, the amount of the deficit decreased in ocean vessels
and aircraft.
The domestic passenger transport continued to increase, but at a low growing
rate. On the other hand, the cargo transport declined from the Preceding fiscal
year because of the delayed recovery from the recession. As a result, the cargo
transport declined below the fiscal 1970 level in tons (declination for three
consequtive years) and below the fiscal 1971 level in ton-kilometers (declination
for two consequtive years).
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