This paper analyzes whether top exporters follow a cost-based or a quality-based strategy.
Using Spanish firm-level export data for 2016, we show that firms that set lower export
prices have larger export revenues. We also find that exporters obtain larger revenues
from their low-price products than from their high-price products. Some results suggest
that the negative effects of a higher export price on export revenues can be attenuated
if firms export goods that provide scope for quality-differentiation.