The Atlas of Economic Complexity is rooted in a set of ideas about how to measure economies based not just on the quantity of products traded, but also on the required knowledge and capabilities to produce them. World Trade data allows us to measure import and export product quantities directly, leading to indicators such as GDP, GDP per capita, Growth of GDP etc. Icons: Cube Divisions, Earth, World by Juan Pablo Bravo, Molecule by Swaty Shah, Coins by Ramakrishna Venkatesan, Subsystem by Alex Tai from the Noun Project The algorithms are specified in the Atlas, but we will skip over these details here. From Can we analyze world trade data in such a way as to tease out relative rankings in terms of these capabilities?To this end, the authors start by looking at the trade web of countries exporting products. However, as a first approximation, one can deduce that products which are more often produced by the same country tend to require similar capabilities. In some ways this is like a chicken & egg problem: For a complex product you need a lot of capabilities.

Product Space. From the original document I put together a composite showing the first two countries, Ghana and Poland.While Ghana’s ECI doesn’t change much, Poland grows into many products similar to those where they started in 1975.
The productive transformation undergone by Poland, Thailand and Turkey, however, look striking compared to that of Ghana. If a new product requires several capabilities which don’t exist in a country, then starting the production of such a product in the country will be hard.

Ring Chart. Specifically, in the report there are graphs for the four countries Ghana, Poland, Thailand, and Turkey over three points in time (1975, 1990, 2009). Benin (BEN) × Trade Visualizations. Explore Over Time. The most important finding here is that ECI is a better predictor of a country’s future growth than many other commonly used indicators that measure human capital, governance or competitiveness.Countries whose economic complexity is greater than what we would expect, given their level of income, tend to grow faster than those that are “too rich” for their current level of economic complexity. Again, the interested reader is referred to the original work.Another interesting question is how Economic Complexity evolves.
But is this a reflection of the high knowledge-intensity of raw diamonds? These products are extracted in very few places, making their ubiquity quite low. Let’s take a look at the ranking of some 128 world countries (selected above minimum population size and trade volume as well as for reliable trade data availability).Why is Economic Complexity important? Ring Chart. Using a combination of Minimum-Spanning-Tree and Force-Directed layout algorithms the network is then laid out and manually optimized to minimize edge crossings.

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