In the study, trade patterns among developing countries were examined between 1963 and 1977. While the total trade remained steady, there were interesting trends: exports of manufactured goods from developing nations decreased, while exports of raw materials increased due to newly industrializing countries. Despite this, manufactured goods still became more important in developing countries' trade. The evidence shows no clear bias against trade within developing countries itself. Countries with inward-looking policies tend to trade more among themselves, especially with regional integration. Capital goods exported to developing nations are more capital-intensive than those to industrialized countries. Contrary to belief, exporting to developing markets may not always be the first step for exporting capital goods.