Price volume and level of economic development as determinants of export value in countries and regions

The aim of the paper is to investigate the specific impact of export prices and volume, and the level of economic development on the changes in the export value of regions and countries in the 21st century. Our analyses show that the scale of the prices’ and volume's impact on the growth rates in export values varied across the regions and countries under study. In the group of manufactures in developed countries and regions the price dynamics was the major factor affecting the dynamics of export values while in developing countries and regions the major role was played by increases in export volume. These discrepancies can be explained primarily with the differences in economic development among countries and regions which in turn translated into their different economic power and employment of different pricing strategies.