Indicators for enhancing competitiveness of Guinea’s industrial products

Abstract

The purpose of the study is to identify indicators for enhancing competitiveness of Guinea’s industrial products on international markets, present simple regression models, and establish the relationship between variables (trade balance and production). If the relationship is positive at 10%, it means that the trade balance is positive, exports will be more than imports, and Guinean industrial products are competitive. If the relationship is negative, then imports will be greater than exports, and Guinean industrial products are uncompetitive. The data has been obtained from the National Customs Administration of Guinea. The study results show that Guinea’s industrial products are uncompetitive: almost all exports are based on mineral resources, but they are unprocessed natural products. The determining factors of industrial products competitiveness are competitiveness indicators and factors of its increase. The competitiveness indicators used in the study are qualitative (standardized, determined by current standards, norms, and recommendations, and regulated, determined by technical regulations and resolutions) and economic (one-time costs of purchasing products and current costs of operating products). The factors of enhancing competitiveness are socio-economic, technical, and organizational.