When the elasticity of export demand is large, the depreciation of exchange rate will increase exports a lot, but when the elasticity of export demand is small (for example, much less than 1) or inelastic, even if the price of export commodities expressed in foreign currency drops a lot, the quantity increase is little or even no increase. The elasticity of export demand depends on many factors.

Whether at least some export commodities meet the demand structure of the international market; The depreciation of exchange rates in other countries leads to the decline of export prices of similar commodities; The overall quality of export commodities, including service quality; Commodity brand image; Promotion measures; Political and economic relations between importing countries and exporting countries and specific foreign trade policies.

Extended data:

If a country exports a certain kind of goods with a very small share in the international market, it is characterized as a "small country", and its export increase will not affect the price decline in the international market, so its export demand elasticity will be infinite, and exchange rate depreciation will generally increase its export volume.

If the depreciation of the local currency is equal to the increase in product prices caused by the use of imported resources, the export price will remain unchanged; If the latter is greater than the former, the export price will rise instead of falling; Only when the former is greater than the latter can the price of export commodities fall, thus increasing the export volume.

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