Economic Complexity Index
This article may be confusing or unclear to readers. (June 2023) |
The Economic Complexity Index (ECI) is a
Higher economic complexity as compared to country's income level drives economic development.
Background
The ECI was developed by
Formulation
In its strict mathematical definition, the ECI is defined in terms of an
Utility
Hidalgo and Hausmann propose the concept of ECI not only as a descriptive measure, but also as a predictive tool for
Economic development requires the accumulation of productive knowledge and its use in both more and more complex industries. According to this metric, many low-income countries, including Bangladesh, Venezuela, and Angola have failed to diversify their knowhow and face low growth prospects while those like India, Turkey, and the Philippines have added productive capabilities to enter new sectors and are expected by some drive growth over the coming years.[4]
Country rankings 2021
This article needs to be updated.(January 2023) |
Rank | Country | Index (2021) |
5-year change |
10-year change |
---|---|---|---|---|
1 | Japan | 2.06 | ||
2 | Switzerland | 1.94 | 1 | |
3 | Taiwan | 1.93 | 4 | 9 |
4 | South Korea | 1.82 | 2 | 2 |
5 | Germany | 1.81 | 1 | |
6 | Singapore | 1.74 | 2 | 1 |
7 | Czechia | 1.56 | 1 | 2 |
8 | Sweden | 1.54 | 3 | |
9 | Austria | 1.50 | 5 | |
10 | United States | 1.46 | 3 | 3 |
11 | United Kingdom | 1.43 | 1 | 1 |
12 | Slovenia | 1.42 | 2 | 1 |
13 | Finland | 1.42 | 2 | 5 |
14 | Hungary | 1.36 | 2 | 3 |
15 | France | 1.35 | 1 | |
16 | Slovakia | 1.31 | 2 | 1 |
17 | Ireland | 1.29 | 7 | |
18 | Belgium | 1.28 | 6 | |
19 | Italy | 1.27 | ||
20 | Israel | 1.21 | 6 | 3 |
21 | Hong Kong | 1.16 | 1 | 1 |
22 | Netherlands | 1.09 | 2 | 9 |
23 | Mexico | 1.09 | 2 | |
24 | Malaysia | 1.09 | 3 | 6 |
25 | China | 1.07 | 5 | |
26 | Romania | 1.07 | 3 | 1 |
27 | Denmark | 1.02 | 5 | |
28 | Poland | 1.01 | 2 | 4 |
29 | Thailand | 0.97 | 7 | 1 |
30 | Lithuania | 0.91 | 1 | 1 |
31 | Saudi Arabia | 0.90 | 5 | 10 |
32 | Canada | 0.90 | 4 | 7 |
33 | Belarus | 0.84 | 1 | 1 |
34 | Croatia | 0.81 | 3 | 6 |
35 | Spain | 0.78 | 3 | 10 |
36 | Serbia | 0.74 | 33 | 71 |
37 | Philippines | 0.72 | 4 | 1 |
38 | Norway | 0.69 | 1 | 2 |
39 | Bosnia and Herzegovina | 0.65 | 2 | |
40 | Bulgaria | 0.63 | 2 | 2 |
41 | India | 0.61 | 1 | 5 |
42 | Turkey | 0.61 | 10 | 8 |
43 | Portugal | 0.56 | 8 | 8 |
44 | Ukraine | 0.49 | 1 | |
45 | Russia | 0.46 | 2 | |
46 | New Zealand | 0.46 | 2 | 8 |
47 | Lebanon | 0.35 | 4 | 10 |
48 | Kuwait | 0.34 | 10 | 37 |
49 | Brazil | 0.33 | 2 | 1 |
50 | Greece | 0.32 | 4 | 24 |
51 | Panama | 0.31 | 1 | 2 |
52 | Costa Rica | 0.24 | 11 | 11 |
53 | Tunisia | 0.22 | 2 | 7 |
54 | North Macedonia | 0.20 | 5 | 3 |
55 | United Arab Emirates | 0.16 | 2 | 3 |
56 | Colombia | 0.14 | 4 | 3 |
57 | Uruguay | 0.10 | 11 | 8 |
58 | Vietnam | 0.10 | 24 | 23 |
59 | South Africa | 0.10 | 11 | 8 |
60 | Argentina | 0.07 | 6 | 5 |
61 | Indonesia | 0.04 | 1 | 1 |
62 | Jordan | 0.03 | 18 | 6 |
63 | Dominican Republic | −0.00 | 7 | 7 |
64 | Georgia | −0.01 | 1 | 3 |
65 | Moldova | −0.02 | 1 | 21 |
66 | El Salvador | −0.04 | 1 | 4 |
67 | Iran | −0.09 | 6 | 34 |
68 | Egypt | −0.10 | 25 | 28 |
69 | Kyrgyzstan | −0.12 | 3 | 3 |
70 | Qatar | −0.17 | 4 | 6 |
71 | Armenia | −0.19 | 18 | 13 |
72 | Albania | −0.19 | 1 | |
73 | Oman | −0.20 | 14 | 14 |
74 | Chile | −0.22 | 42 | 37 |
75 | Jamaica | −0.23 | 14 | 36 |
76 | Guatemala | −0.24 | 7 | |
77 | Kazakhstan | −0.28 | 2 | 1 |
78 | Morocco | −0.28 | 1 | 9 |
79 | Uzbekistan | −0.38 | 8 | 32 |
80 | Paraguay | −0.38 | 18 | 9 |
81 | Sri Lanka | −0.39 | 3 | 15 |
82 | Australia | −0.41 | 9 | 11 |
83 | Kenya | −0.46 | 14 | 17 |
84 | Honduras | −0.50 | 11 | 9 |
85 | Azerbaijan | −0.52 | 33 | 8 |
86 | Turkmenistan | −0.55 | 2 | 5 |
87 | Pakistan | −0.55 | 3 | 5 |
88 | Senegal | −0.59 | 12 | 28 |
89 | Benin | −0.61 | 2 | 1 |
90 | Niger | −0.62 | 1 | 12 |
91 | Peru | −0.63 | 6 | 4 |
92 | Cambodia | −0.64 | 11 | 18 |
93 | Botswana | −0.67 | 16 | 1 |
94 | Tajikistan | −0.69 | 15 | 12 |
95 | Laos | −0.70 | 7 | 2 |
96 | Zambia | −0.74 | 12 | 5 |
97 | Namibia | −0.77 | 19 | 7 |
98 | Zimbabwe | −0.78 | 4 | 1 |
99 | Ethiopia | −0.80 | 3 | 20 |
100 | Togo | −0.81 | 19 | 33 |
101 | Bangladesh | −0.85 | 31 | 21 |
102 | Burma | −0.85 | 16 | 12 |
103 | Algeria | −0.88 | 4 | 2 |
104 | Ecuador | −0.89 | 12 | 20 |
105 | Uganda | −0.92 | 3 | 7 |
106 | Bolivia | −0.97 | 11 | 2 |
107 | Republic of the Congo | −1.02 | 13 | 11 |
108 | Nicaragua | −1.03 | 2 | 14 |
109 | Madagascar | −1.07 | 2 | 26 |
110 | Venezuela | −1.08 | 1 | 5 |
111 | Tanzania | −1.09 | 4 | 6 |
112 | Iraq | −1.12 | 7 | 13 |
113 | Yemen | −1.15 | 12 | 18 |
114 | Libya | −1.18 | 18 | 13 |
115 | Cote d'Ivoire | −1.19 | 1 | 12 |
116 | Afghanistan | −1.20 | 4 | 3 |
117 | Mongolia | −1.23 | 41 | 37 |
118 | Ghana | −1.27 | 15 | 6 |
119 | Mauritania | −1.32 | 2 | 1 |
120 | Sudan | −1.33 | 16 | 10 |
121 | Cameroon | −1.36 | 8 | 7 |
122 | Mozambique | −1.36 | 7 | 2 |
123 | Gabon | −1.41 | 1 | 4 |
124 | Angola | −1.37 | 1 | 3 |
125 | Mali | −1.43 | 3 | 3 |
126 | Nigeria | −1.53 | 4 | |
127 | Burkina Faso | −1.79 | 4 | 2 |
128 | Democratic Republic of the Congo | −1.81 | 5 | 1 |
129 | Papua New Guinea | −1.84 | 19 | 20 |
130 | Guinea | −1.84 | 3 | 3 |
131 | Chad | −1.93 | 7 |
See also
References
- PMID 19549871.
- ^ Ricardo Hausmann, Cesar Hidalgo; et al. "The Atlas of Economic Complexity". Puritan Press, Cambridge MA. Archived from the original on 18 May 2012. Retrieved 26 April 2012.
- )
- ^ "India tops list of fastest growing economies for coming decade: Harvard study". The Economic Times. 2020-05-04. Retrieved 2020-10-31.
- ^ "Complexity rankings The Observatory of Economic Complexity". OEC. Retrieved 2023-05-02.