Economic Complexity: In 2019, the highest complexity exports of Region Of Murcia according to the product complexity index (PCI) are Petroleum Resins (1.16), Polyacetals (1), Pig Meat (0.78), Electric Generating Sets (0.75), and Cyclic Alcohols (0.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
In 2019 the top import origins of Region Of Murcia were Saudi Arabia (β¬1.77B), Mexico (β¬1.54B), Iraq (β¬747M), Brazil (β¬605M), and China (β¬561M).
This section shows forecasts for total exports and imports from Region of Murcia. 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 Region Of Murcia already has a comparative advantage, are led by Tropical Fruits (0.22), Raw Cotton (0.2), Salt (0.2), Cement (0.2), and Other Oily Seeds (0.2).
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 Region Of Murcia 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 Region Of Murcia. These are products that tend to be co-exported with the products that Region Of Murcia 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.