Oct 26, 2011

The Atlas of Economic Complexity - How do economies look like in a Product Space Map?

This is how the Economy of Guatemala looks like.
The green color represent "garments," you can see the meaning of the colors in the whole report.
You might wonder what the black boxes mean: 
To make countries and products comparable we use Balassa’s definition of revealed Comparative advantage or rCa. Balassa’s definition says that a coun- try has revealed Comparative advantage in a product if it exports more than its “fair” share, that is, a share that is equal to the share of total world trade that the product represents. For example, in 2008, with exports of $42 billion, soy- beans represented 0.35% of world trade. of this total, Brazil exported nearly $11 billion, and since Brazil’s total exports for that year were $140 billion, soybeans accounted for 7.8% of Brazil’s exports. this represents around 21 times Brazil’s “fair share” of soybean exports (7.8% divided by 0.35%), so we can say that Brazil has revealed comparative advantage in soybeans.
This is China
This is the US

This is Colombia 
This is Ghana
This is the ranking


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