Export-Led Development (Grade 11 NSC Matric Geography): Flashcards

Strategy using export growth to accelerate economic development

1:Invest in industry/education 2:Reinvest profits in services

Hong Kong, Singapore, Taiwan, South Korea

Increased from 2% of GDP to 5.2%

$37,900 (ranked 27th globally)

90% of export earnings

Over-nationalisation became expensive, no diversification

Newly Industrialised Countries with rapid growth since 2000

Political stability for long-term investment

Greater global competition, many countries make similar products