Enhancing Export Competitiveness : Part – I

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Article

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Looking at the high growth emerging economies that have sustained per capita income growth between 4 and 7 percent annually over a fifty year period – China, Korea, Hong Kong, Singapore, Malaysia, Indonesia and Thailand and a likely new entrant Vietnam – what strikes an observer is their exceptional performance in global export markets.

Despite the fact that China has a domestic market of 1.4 billion, its spectacular unprecedented growth couldn’t have taken place if it had not actively participated in international trade. China, starting almost from scratch in 1980, has become the world’s largest exporting nation with over 10 percent market share surpassing the US and Germany although its per capita income is only $11000 – one-fifth that of the US. Hong Kong, Singapore, Vietnam and Malaysia have export-GDP ratios of 100 and over, while Thailand has a ratio of 50. Only Indonesia, being a highly populated country, lags behind these other countries but it would be interesting to note that in October 2021 its exports surged by 53 percent to reach $22 billion – almost close to Pakistan’s annual exports in 2019-20.

Publication Source

The News

Publication Date

11-19-2021

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