Export led growth finds a great significance in all period of history both at the level of growth experience and in economic literature. In the twentieth century, Japan, South Korea, Taiwan, Malaysia, Indonesia and Singapore achieved faster economic growth through export led policies. Developing countries of Asia, after political independence attempted to have growth based on domestic market by protecting their domestic industries from foreign competition. But the strategy of growth and industrialization through protected domestic market was not successful in most cases. These economies experienced slow growth and in the latter half of the last century most of them adopting the policy of export led growth.