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Export-Led Development - Coggle Diagram
Export-Led Development
Advantages
More employment
Higher incomes
Increased GDP
More foreign exchange
Attracts investment
Can reduce poverty
Export-Led Development
Focuses on producing goods for export
Earns foreign currency
Increases international trade
Encourages foreign investment
Creates jobs
Increases economic growth
Expands markets for local businesses
Can improve infrastructure
Encourages specialisation in certain products
Disadvantages
Dependence on foreign markets
Prices can change quickly
Vulnerable to global recessions
Overuse of natural resources
Possible exploitation of workers
Can increase inequality