Mitigating Economy Risk in The Digital Era Through Export Diversification

RENTNOSARI,, L. , & RAMANA,, F. (2019). Mitigating Economy Risk in The Digital Era Through Export Diversification. The Journal of Industrial Distribution & Business, 10(9), 19-24, https://doi.org/https://doi.org/10.13106/ijidb.2019.vol10.no9.19.

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Abstract

Purpose - In the digital era, technology advancement enables goods and services to be produced more efficiently but also create economy risk in the global economy including Indonesia. Previous studies stated that the risk can be mitigated through export diversification. This study investigates strategy to expand the markets for existing products and explore the potential market. Research design, data, and methodology - The criteria was followed using a review and considerations combination through the Focus Group Discussion (FGD) to determine the priority product in trading house of Indonesia. This study implemented market share to explore those products' markets and compare it to other ASEAN countries. Results - The Indonesian potential products are T-shirts, singlets and other vests of textile materials, knitted or crocheted (excluding cotton); food preparations; medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes; soap in the form of flakes, granules, powder, paste or in aqueous solution; and cocoa powder, not containing added sugar or other sweetening matter. The market analysis also showed that Indonesia still had not optimally accessed yet the largest market in the world for each product. Conclusions - The government should focus more on increasing the competitiveness of those products, particularly in those global marketplaces.

keywords: Digital Era, Global Shock, Export Diversification, Market Share, ASEAN

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Article Contents

Vol.10 No.9

Mitigating Economy Risk in The Digital Era Through Export Diversification

Abstract

Reference

The Journal of Industrial Distribution & Business