Knowra Export-oriented industrialization Export-oriented industrialization Export-oriented industrialization is an economic strategy that promotes industrial growth by producing manufactured goods for foreign markets. It relies on access to international demand, imported inputs, and competitive production.
Export processing zone : A designated area offering firms special trade or regulatory conditions, often to encourage export production. These zones concentrate export factories and may simplify access to imported inputs.
South Korea's economic development : South Korea's transformation from a poor, largely agrarian economy into a high-income industrial economy. Its export drive became a defining feature of rapid postwar industrial growth.
Import substitution industrialization : A strategy that promotes domestic production of goods previously imported, often using trade protection. Its emphasis on serving domestic markets contrasts with export-oriented production.
Economic growth : An increase over time in the production of goods and services in an economy. Industrial expansion is often assessed by its contribution to aggregate output growth.
Global value chain : The cross-border sequence of activities through which firms design, produce, and distribute a good or service. Export industries often specialize in particular stages of cross-border production.
Taiwan's economic development : Taiwan's postwar transition toward an industrial economy integrated into international trade. Manufactured exports helped expand firms and shift production toward more complex goods.
Autarky : An economic policy or condition seeking national self-sufficiency with minimal reliance on international trade. Export-oriented industrialization depends on foreign buyers and cross-border exchange.
Structural transformation : A long-term shift in an economy's output and employment across sectors, typically toward industry and services. Export manufacturing can move labor and resources away from agriculture.
Foreign direct investment : An investment that gives a firm or investor a lasting ownership interest and influence in a business abroad. Foreign firms can supply capital, technology, and access to overseas markets.
Singapore's economic development : Singapore's transformation into a high-income economy through trade, manufacturing, and services. Export-oriented manufacturing formed part of its strategy to attract investment and connect globally.
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