UN General Assembly
1964

69. As time goes by, the gap between this small group and the multitude of suffering undeveloped nations continues to widen at an alarming pace. The more they toil, the more they produce, the less they seem to receive in return for their labour and, according to reliable estimates, the trade gap alone may reach the staggering figure of some $20 billion within a few years. This is because the terms of trade have been highly unfavourable to the developing countries, due to the declining prices for the primary products and other commodities exported by them and the rising prices of imported manufactured goods which are indispensable to their development.