Economic Complexity: In 2019, the highest complexity exports of Henan Province according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.16), Cermets (2.02), Tool Plates (1.95), Glass with Edge Workings (1.88), and Halides (1.77). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
This section shows forecasts for total exports and imports from Henan Province. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.
The top export opportunities according to the relatedness level, without considering those products were Henan Province already has a comparative advantage, are led by Vacuum Flask (0.22), Oxometallic or Peroxometallic Acid Salts (0.21), Cinnamon (0.21), Combs (0.21), and Slate (0.21).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Henan Province is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
This network shows the products most related to the production structure of Henan Province. These are products that tend to be co-exported with the products that Henan Province exports. Higher relatedness values ββindicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.