This section shows forecasts for total exports and imports from Idaho. 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 Idaho already has a comparative advantage, are led by Horses (0.17), Bulbs and Roots (0.17), Processed Cereals (0.17), Bovine Meat (0.16), and Other Prepared Meat (0.16).
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 Idaho 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 Idaho. These are products that tend to be co-exported with the products that Idaho 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.