Export target country selection tool for more competitive enterprises

Abstract

Export is one of the main drivers of economic development of Latvia. Therefore, facilitation of exports is important, especially in regional level thus ensuring more integrated regional development. As the competition increases globally, identification of export target countries and export market research are becoming increasingly important. The choice of the export target countries is done in several levelsgovernment, associations and enterprises. If the same export target countries are chosen at different levels, enterprises can focus more on increasing competitiveness rather than on marketing activities. The aim of the study is to create a tool for determining the export target countries of Latvia. This implies the choice of the most appropriate indicators to characterise selected criteria, which are obtained from several statistical databases and worldwide assessments like Doing Business, Worldwide Governance Indicators and others. The elaborated export target country selection tool comprises data of 2016 for 240 countries. All the initial data are first ranked and then consolidated in 10 criteria, which are used for final ranking of all the countries. The representative of the Ministry of Economics found the tool useful. It is best suited for the initial selection of export target countries, which then can be analysed more thoroughly. The use of the tool by export authorities can ensure more qualitative cooperation, help to avoid duplication of information and plan international relations and export facilitation activities more efficiently thus ensuring more advantages to enterprises. The tool can be extended also for use by enterprises.