Abstract
International market selection for conducting exports is based on various trade and economic factors. It is very important to understand how to efficiently trade with another country and to maintain consistency. However, such a consistency is not possible in the case of economics. Therefore, using an efficiency measure helps us to explore and benchmark a country’s exportation businesses. The main goal of this study is to develop an integrated data envelopment analysis (DEA) model to explore the most productive manner through which Vietnam exports goods to other countries. Exploring the most productive export business will help us achieve another goal of this study, which is the selection of international market efficiencies. The variables used for this analysis include the exports, total exports, import tariff, dollar exchange, and the ease of doing business. Based on the data collected from an international organization, on the 15 leading export markets in Vietnam, this study applied integrated DEA, which combines the super slack-based measure (Super SBM) and Malmquist Productivity Index (MPI) analysis to evaluate the export market efficiency. The findings show that for the selection of the export market, the three countries that were the most consistently efficient during 2014–2017 were Malaysia, Singapore, and the United States. This study indicates that the selection of international markets for developing countries should comply with low tariff rates, low exchange rates, and a higher ease of doing business in order to improve the gross domestic product (GDP) and economy of the country.
Highlights
From the data envelopment analysis (DEA) Super SBM model and the results shown in Table 5, it is analyzed that the United States and Singapore remained the most efficient amongst the 15 decision-making units (DMUs)’s from 2014–2017
The results of this study can be considered as a basis for selecting a market that will help the government and businessmen make for profitable deals in exports with a long-term vision
Vietnam is a developing nation and over the years has mainly focused on exports and foreign direct investment (FDI) to improve its economic conditions
Summary
The Doi-Moi movement included the reformation of foreign investment law; it increased the independence of private organizations and agricultural and rural development, and it improved banking systems, taxation laws, national expenditures, the ease of exporting and import, tariffs, and civil laws. These extensive reformation strategies helped the government to reduce the pressure of inflation and improve the economic climate of Vietnam [1,2]. This improved the value of exports compared to the value of imports
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