World Bank

tier of large firms. Specifically, the top 5 per cent of firms accounts for almost 80 per cent of exports on average and the top 10 per cent accounts for almost 90 per cent,’’ the report said.

Given that instances of small exporting firms thriving to superstar levels are extremely rare, the authors conclude that disproportionately allocating resources to export programmes in support of SMEs might prove to be misguided.

‘‘On the same line of thought, costly regulations that disproportionately target large firms will also hold back export growth. Finally, policies to attract large multinational firms are likely to be crucial for small countries interested in expanding exports and diversifying their export base.’’