export economy
Sells goods abroad
An export economy is one that depends heavily on selling goods or services to other countries.
Such economies often specialize in particular industries—oil, manufacturing, agriculture—and remain vulnerable to shifts in global demand or trade policy.
South Korea transformed into an export economy through electronics and automobiles.
- international tradeExchange across national boundaries
- trade agreementPact governing international commerce
- free trade zoneRegion without import duties
- trade surplusExports outpacing imports
- balance of paymentsNation's international transaction record
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