Week four (4)
Benefits of export promotion
The following are basic benefits of export promotion:
1. Foreign exchange earning :Export promotion leads to expansion of good for foreign market which are source of foreign exchange.
2.
Efficiency in production: Export promotion encourages industries to produce at high capacity in other to meet up demand from both domestic and foreign markets.
3. Employment creation: Increase production through export promotion leads to expansion of local industries. This leads job creation and reduction in unemployment.
4. Better use of resource: Increase production of export foster better and efficient use of locally available resource.
5. National growth and development: Revenue generated from export can be used by government to develop the country. For instance, it use for providing infrastructures such as road health care service and other social amenties.