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Meanwhile, shrinking world demand and plummeting commodity prices have resulted in a sharp dip in South Africa's exports.So companies have begun to announce big lay-offs as demand falls and factories close.
Faced with plummeting commodity prices and a glut of sugar on top of the disappearance of its Soviet subsidies, the Cuban government has closed about half of its sugar mills.
While Canada went into the crisis with stronger fundamentals than the US including years of fiscal surpluses and a much-stronger banking system it will also be plunged into recession this year, in no small measure because of slumping demand in the US, by far its largest trading partner, as well as because of plummeting commodity prices.
If plummeting commodity prices haven't been keeping Rio Tinto's Tom Albanese Tom Albanese and BHP Billiton's Marius Kloppers Marius Kloppers awake at night, the latest news out of Russia almost certainly will.
Few target nations have benefited and, because HIPC relief is tied to export earnings, plummeting commodity prices have dealt an unexpected added blow to the initiative.
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By March, when we ranked our most recent list of the World's Billionaires, the Moscow mogul's fortune had fallen 83% to $1.6 billion amid plummeting commodities prices.
But plummeting global commodity prices have pummelled Ghana's economy.
At the time, farmers were fighting plummeting agricultural commodity prices, and, following Kerala's intensely leftwing traditions, were seeking to confront the issues of trade justice.
The country's growth has plummeted — low commodity prices, high interest rates, and austerity measures are partly to blame — and it officially entered a recession in 2015.
But worsening economic times have seen commodity prices plummeting from record highs.
That sent world commodity prices plummeting and eventually, over the next three years, helped clip more than $2 billion in revenue from the balance sheet of A.D.M., which sells a large portion of its products to the Pacific Rim.
More suggestions(13)
falling commodity prices
plummeting share prices
plummeting house prices
plummeting energy prices
plummeting stock prices
plummeting asset prices
plummeting oil prices
plummeting housing prices
plummeting ticket prices
plummeting home prices
plummeting sequence prices
plummeting copper prices
plummeting milk prices
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com