What is Narrow Export Base?

A narrow export base refers to a situation where a country's exports are concentrated in a limited number of goods or markets. This lack of diversification can make the economy vulnerable to external shocks, such as fluctuations in global demand or commodity prices. Countries with a narrow export base may face challenges in achieving sustainable economic growth and development, as they rely heavily on a few products for their revenue. To mitigate risks, these countries often seek to diversify their export portfoliOS and expand into new markets.