Economy & TradeThe 1990s

Economy & Trade in the 1990s

Every event in the Terralore archive tagged economy and trade — trade, currency, industry and resources, narrowed to the 1990s — 12 of them, drawn from 11 nations, running from 1991 to 1999. Each entry keeps the sources it was verified against and links back to the chronicle it came from.

Events
12
Nations
11
Earliest
1991
Latest
1999
Africa
3
Asia
3
North America
3
Europe
2
South America
1

Every entry below is the same record, with the same sources, as the one on its nation’s chronicle.

  1. North America

    Cuba

    The Special Period begins

    The Soviet collapse ends Cuba's subsidies and trade; Castro declares a special period of rationing and austerity as GDP contracts sharply.

    Era: Special Period, Thaw, and the Present

    Sources: Cuba since 1991 · Encyclopaedia Britannica

  2. Asia

    Kuwait

    Rapid post-war reconstruction

    International teams capped the burning wells and Kuwait restored oil output to pre-war capacity within about a year, while the UN set up a commission for Iraqi reparations.

    Era: Reconstruction and Modern Kuwait

    Sources: Towering Infernos: The Kuwait Oil Fires · Association for Diplomatic Studies and Training, Kuwait: History · Encyclopaedia Britannica

  3. South America

    Brazil

    Plano Real ends hyperinflation

    A new currency and stabilisation plan tame runaway inflation, reshaping the economy and politics of the 1990s.

    Era: Modern Democratic Brazil

    Sources: Brazil · Encyclopaedia Britannica

  4. North America

    Mexico

    NAFTA and the Zapatista uprising

    The North American Free Trade Agreement takes effect as the Zapatistas rise in Chiapas; a peso crisis follows that December.

    Era: Modern Mexico: The PRI Era to Today

    Sources: Zapatista National Liberation Army (EZLN) · Encyclopaedia Britannica

  5. Africa

    Equatorial Guinea

    Zafiro oil field discovered

    Mobil and partners discovered the major Zafiro oil field offshore Bioko Island in March 1995, the find that opened Equatorial Guinea's petroleum era.

    Era: Obiang, oil, and inequality

    Sources: Zafiro Oil Field, Bioko Island, Gulf of Guinea · NS Energy, Equatorial Guinea becomes an oil producer · Oil & Gas Journal

  6. Europe

    Ireland

    The Celtic Tiger

    From the mid-1990s, foreign direct investment and the single market fuelled rapid growth, the 'Celtic Tiger', turning one of western Europe's poorer countries into one of its most prosperous.

    Era: The Republic, Europe and the Northern Question

    Sources: Benefits of EU membership for Ireland · European Commission, Representation in Ireland

  7. Europe

    Liechtenstein

    Accession to the European Economic Area

    Liechtenstein joined the European Economic Area, integrating into the European single market as an EFTA state while remaining outside the European Union and preserving its Swiss customs union.

    Era: A Wealthy Microstate: Finance, the ICJ Case and the Modern Constitution

    Sources: History of Liechtenstein · Embassy of the Principality of Liechtenstein, Washington D.C., The History of the Princely House of Liechtenstein · Fürstenhaus von Liechtenstein (official Princely House), Advantages of the customs and monetary union with Switzerland · Liechtenstein Finance

  8. Africa

    Equatorial Guinea

    Oil production begins

    The Zafiro field came on-stream in August 1996, less than eighteen months after discovery, launching Equatorial Guinea as an oil producer; output later peaked in the hundreds of thousands of barrels a day.

    Era: Obiang, oil, and inequality

    Sources: Zafiro Oil Field, Bioko Island, Gulf of Guinea · NS Energy, Equatorial Guinea becomes an oil producer · Oil & Gas Journal

  9. Asia

    Qatar

    North Field LNG development

    Qatar invested heavily in liquefied natural gas from its offshore North Field, becoming the world's leading LNG exporter and reaching among the highest per-capita incomes globally.

    Era: The Gas Boom: Hamad, Al Jazeera and New Wealth

    Sources: Qatar: History (Persian Gulf, Oil, Gas) · Encyclopaedia Britannica

  10. Asia

    South Korea

    Asian financial crisis and IMF rescue

    A regional financial crisis forces South Korea to seek a major IMF bailout; sweeping reforms follow under President Kim Dae-jung.

    Era: Democratization and Modern South Korea

    Sources: Kim Dae-Jung · Encyclopaedia Britannica, Korea (history) · Encyclopaedia Britannica

  11. Africa

    Lesotho

    Katse and Mohale dams completed

    The Katse Dam (Phase 1A) and then the Mohale Dam are completed, sending Lesotho's mountain water to South Africa's Vaal system in exchange for royalties.

    Era: The Kingdom in the Sky

    Sources: The Lesotho Highlands Water Project is 40 years old and going strong · The Conversation, Lesotho · Wikipedia, Lesotho Highlands Water Project II — environmental and social assessment · African Development Bank

  12. North America

    Trinidad and Tobago

    Atlantic LNG begins exports

    The Atlantic LNG plant at Point Fortin started production, confirming Trinidad and Tobago's shift from oil to natural gas and making it a major global LNG exporter.

    Era: A modern energy nation

    Sources: Historical Facts on the Petroleum Industry of Trinidad and Tobago · Ministry of Energy and Energy Industries, Trinidad and Tobago