OEC Stories

Over 98% of global trade depends on accurate HS code classification—missing an update could cost you significantly. At the Observatory of Economic Complexity (OEC), we're here to keep you informed and help you make smart decisions in today's international markets.

​​Ever wonder why trade data varies between platforms? Explore the crucial differences between COMTRADE and BACI, and learn why the OEC relies on BACI for historical trade data.

In a rapidly changing trade landscape, staying ahead means predicting the future. Explore OEC tools to uncover emerging export opportunities and secure your competitive edge.

In the mid-1990s, the U.S. achieved a rare "soft landing." Today, hopes for a similar outcome face a vastly different, digital-dominated economy. This article explores the parallels and contrasts between then and now, and the crucial role of digital trade in shaping our economic future.

China’s booming semiconductor imports reveal a stark truth: sanctions might be the blunt sledgehammer against a market thriving on precision and complexity. As the U.S. contemplates stricter trade restrictions, can this strategy contain a tech arms race, or will it spark a new era of covert technological warfare?

As mountains of e-waste grow, so does the untapped potential of billions in precious metals and critical materials. Transforming this electronic trash into treasure could revolutionize industries and significantly reduce pollution and carbon emissions.

Blending human technology with natural carbon absorption: carbon removal is poised to revolutionize trade and create a new industry to fight climate change.

Our most critical technological challenges and geopolitical competitions unfold at the silicon table. The rising global demand for semiconductors has turned Nvidia, TSMC, ASML into dominant designers and manufacturers. These companies and national policies intersect in a world where making war, peace, and global economic stability depend on a nation’s stack of chips.

As rare earth elements drive the tech and defense industries, China's dominance poses a significant risk. Can the U.S. develop alternative supply chains to secure these critical resources?

India's transition from traditional agriculture to a leader in global technology and manufacturing marks a notable economic transformation in the 21st century.

Unveiling Italy's economic landscape: Dive into our latest trade data revealing the surprising diversity and distinct competitive advantages of regions from Milan to Sicily, shaping the future of local and global trade strategies.

Join us in Budapest, Hungary. July 10-12.

A mid-air failure, dramatic pilot heroics, a dead whistleblower, a widening investigation breaking all records for complexity, management shake ups, staggering cash outflows: the Boeing 737 Max exposes the huge built-in risk for aerospace supply chains.

In the U.S.-China trade war battlefield, Mexico cleans up. The U.S.'s leading goods supplier is no longer in the Far East. The new “Near South” is open for business.

How the evolving Harmonized System (HS) and its 2022 revision are creating a single ocean of pure information on which the entire global trading economy can float.

In the dawn of 2024, Brazil and China are not just trading partners; they're setting a precedent for how emerging markets can redefine power dynamics on the world stage.

In 2023, the space industry's leap toward transforming Earth's supply chains reached a $550 billion milestone, opening doors to unparalleled resources and technologies. Are we on the brink of a space-based economic revolution?

The U.S. dollar has become increasingly important in everyday transactions. Argentina’s new president wants to make the dollar the official currency. What can it fix and what could it break?

Canal Blockages in the Suez and in Panama have amplified the urgency for closer cooperation on global trade.  Economies and industries dependent on a few critical maritime routes make essential goods, from food grains to electronics vulnerable to violent disruption.

Drone technology is probably watching you right now. Diplomacy, military strategy, recreation, culture are all being transformed by drones. The trade numbers for the drone sector, we can say, are taking off. We are also confident that this is an understatement.

Global temperatures exceed the 2 degrees Celsius threshold above pre-industrial levels for the first time. It’s an alarming signal of trade disruption from extreme weather to widespread food insecurity.

The Physicist, the Designer, the Engineer and the Galileos of Complexity Behind the OEC

The Federal Government Driven Gulf Louisiana Offshore Wind Propeller Hub Transforms The View From the Baton Rouge/New Orleans Economy.

From bottled water to the flow of H2O in countless products and industrial processes, the global water trade is the ultimate "Zero Sum Game" as all life on the planet participates in the search for water. This month we uncover the economic, environmental, and geopolitical implications of the commodity that no part of the global economy can do without.

From the heart of Detroit to the bustling trade hubs in the Southern US, a labor union's strategy of gradual strike expansion slowly turns the screws on industry at a time of unprecedented change and potential vulnerability for the auto giants.

Four key metrics—Degree Centrality, Betweenness Centrality, Closeness Centrality, and PageRank—offer valuable insights into network robustness. China consistently ranks at the top across all these metrics within the solar energy sector. How can we better understand and anticipate the impact of that dominance?

Green technology from China drives innovation and sustainability. But does reliance on one nation's expertise create risk and increase the need for international cooperation in a time of geopolitical tensions?

DAMNING DATA: You are looking at the geographic signature of El Niño colliding with the drought in the Western United States. We must address an urgent question: how can we identify sustainable solutions before food insecurity disrupts the global food supply?

As cleantech reshapes global trade, data shows the impact of renewable energy and the challenges to fulfilling the promise of a greener future.

Unlock the potential of real-time global trade and supply chain insights by harnessing the power of company-level data.

Unlocking Mexico's green-tech future hinges on the transformative potential of industry-academia collaboration.

Africa has the Green Goods, China has the Green Tech. So can this Collaboration finally be a better deal for a historically exploited Africa?

The electric mobility revolution is gaining momentum, driven by increasing exports of electric vehicles, bikes, and buses. This is how supportive policies and supply chain challenges shape the future of sustainable transportation.

The COVID-19 pandemic shook the world economy and disrupted global trade like never before. But 2021 brought some good news for traders and consumers alike. Here are four surprising trends that shaped trade in 2021 and what they mean for the future.

The alliance of Russia and China has been strengthened, yet technological sanctions from NATO+ countries continue to harm Russia.

The US-China trade is causing some companies to look for Mexico as an alternative to sourcing from China.

According to recently released trade data, in 2022, trade registered record highs primarily due to increases in the value of energy and food. Although other industries also grew in trade value, recent trends highlight challenges for several sectors, including electronics, chemical products, and transportation.

Metrics of economic complexity are used routinely by international organizations, national ministries, and regional development agencies to explain international differences in inclusive green growth. But the metrics of economic complexity used commonly in these international comparisons are based on trade data, which while being internationally comparable, has the disadvantage of favoring countries that are close to advanced economies. That is, trade-based metrics can overestimate the economic complexity of countries integrated into the value chains of sophisticated neighbors (e.g., Slovakia) and underestimate the complexity of countries that are geographically distant to global markets (e.g., Australia).

The latest trade data from China suggest that the country's "zero-COVID" policies have affected exports from crucial industries.

The US government has imposed new export controls to limit China's development of high-end chips with AI applications. However, even if the US government is successful in restricting the sale of specific chips and chip-making equipment to China, China would likely be able to develop high-end AI chips using other means.

At a time when the UK has created trade barriers with the EU, its largest trading partner, short-lived government plans have added turmoil to the British economy.

Listen to the audio from this episode of the OEC News podcast

The war in Ukraine, rising energy costs, and restrictive trade policies have reduced fertilizer supplies while raising prices. While the repercussions of shortages will be felt globally, some countries like India and Brazil are among the most impacted.

US President Joe Biden signed a climate bill with global implications for international trade. The roughly $370 billion in federal financing would significantly impact critical sectors, such as home appliances, transportation, and energy.

It started with China's real estate bonds falling due to the country's property debt crisis last December. Now, thousands of people around China are refusing to make mortgage payments for homes yet to finish. As China’s mortgage crisis deepens, it creates a crater that threatens exporters everywhere.

In 1970, West Germany and the Soviet Union signed a contract for a gas pipeline connecting Siberia to Bavaria. Today, Russia supplies more than half of Germany's natural gas, roughly half of its coal, and a third of its oil.

Record energy prices and dependency on fossil fuels are making Russia the winner in the trade war.

It only took a few months for the pandemic to change the economy. Some shifts, such as the rush for gold, were temporary, others, such as the electrification of transportation, accelerated. Here is a summary of what the recently released international trade data tells us about the winners and losers of 2020.

A sharp increase in catalytic converter robberies to extract palladium highlights the far-reaching consequences of the Russian invasion and the intricate calculations of economic sanctions.

New border policies implemented by the state government in Texas are hurting critical supply chains for the auto industry in North America.

Historic droughts in the U.S. plus supply chain disruptions from the pandemic have stressed food trade and driven prices extraordinarily high

Sunflowers are Ukraine's national symbol and the seeds for a global industry. The Russian invasion is creating a significant shortage worldwide.

Now that more than a fifth of the twenty-first century is behind us, it is time to take stock of long-term trends in economic complexity.

Electric Vehicles and associated supply chains are a crucial technology where the United States' lead has, in the past decade, moved to China and South Korea. Understanding how this happened is essential to developing other areas of essential innovation for a net-zero economy.

The Great Supply Chain Disruption didn't start with the pandemic. The US-China trade war disturbed the Global Supply Chain; extreme weather amplified its vulnerabilities. Then, COVID hit.

Climate change is making your morning cup of coffee more expensive. How much more depends on your taste.

According to recent data from the Observatory of Economic Complexity, cotton exports from India dropped by 61% in September 2022 compared to the same month a year earlier.

When you buy a T-shirt made in Haiti, you are getting more than an inexpensive piece of clothing. It is a tale of resilience, sacrifice, missing opportunities, and hope for a better future.

For decades, Cuba has been at the forefront of biotechnology. A new COVID-19 vaccine might present the opportunity for the Island to display its skills to the World.