Economic Complexity: In 2019, the highest complexity exports of Sverdlovsk Region according to the product complexity index (PCI) are Flat Flat-Rolled Steel (1.45), Flat-Rolled Iron (1.18), Steam Turbines (1.13), Metal-Rolling Mills (1.1), and Rock Wool (0.75). 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 SVERDLOVSK REGION. 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 Sverdlovsk Region already has a comparative advantage, are led by Sulphur (0.13), Sunflower Seeds (0.12), Ammonia (0.12), Asphalt Mixtures (0.12), and Raw Aluminium (0.11).
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 Sverdlovsk Region 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 Sverdlovsk Region. These are products that tend to be co-exported with the products that Sverdlovsk Region 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.