Clusters of exporting priority countries

Abstract

The importance of the foreign markets selection in company decision-making is undeniable, meantime the literature on the subject remains fragmentary. Based on previous research, the view of this work differs from existing models by offering a generalizable methodology from secondary sources (World Bank, OECD, World Economic Forum, Hofstede Centre, Centre for the Practice of International Trade and Geobytes Database). With analysis of a specific export economy is found out whether the choice of markets by companies could be associated with the most commonly used factors in the literature, and whether this may result in a grouping of countries. The results point out to the choice of markets not only for its psychic distance but by other criteria involving, regardless of their suitability in the preliminary screening stage. Thus, this study suggests that companies additionally using other factors and/or processes, with a trend to move towards ad hoc procedures in choosing new markets. This methodology allows companies in the economy studied to know the differentiating features of the priority markets and to place within this worldwide map as comparative to the rest of companies.