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Trade

Interactive chord diagram to visualize trade

Siddhesh Kaushik's picture

What comes to mind when we think of trade? Quite possibly, exports, imports and trade balance. Is there a quick way to get this information without having to look at tables? Most of us would like to see how much a country imports and exports, which are the major trade partners, and what is the trade balance. We have introduced a d3.js based interactive Chord diagram to quickly visualize this information.

For example, here is a visual of Australia’s Exports and Imports for 2015. The chart shows top countries to which Australia exported or imported that year, and the remaining are bundled as “others”. Here is how you can interpret the diagram.

Each country has a different color. The length of the arc for Australia represents Australia’s total imports and the other parts of the arc show Australia’s exports to various countries. We can see the Import arc is slightly bigger than the Export arc and hence Australia has an overall negative trade balance.

From data blur to slow-mo clarity: big data in trade and competitiveness

Prasanna Lal Das's picture

Tolstoy's War and Peace was the big data of its time. A memorable moment from the epic novel occurs when Prince Andrei awakens following a severe injury on the battlefield. He fears the worst but, "above him there was nothing but the sky, the lofty heavens, not clear, yet immeasurably lofty, with gray clouds slowly drifting across them. 'How quiet, solemn, and serene, not at all as it was when I was running.'" Time appears to slow down and the Prince sees life more lucidly than ever before as he discovers the potential for happiness within him.

In many ways the scene captures what we demand of big data—not the bustle of zillions of data points as confusing as the fog of war, but sharp, clear insights that bring the right information into relief and help us connect strands previously unseen. The question of whether this idea is achievable is the starting point of a paper about big data on trade and competitiveness just published by the World Bank Group. In it, we asked—can big data help policy makers see the world in ways they haven't before? Are decisions that are informed by the vast amounts of data that envelop us better than decisions based on traditional tools? We didn't want a story trumpeting the miracles of big data; we wanted instead to see the reality of big data in action, in its messiness and its splendor.

Measuring the environment for e-commerce: A new tool

Michael Ferrantino's picture
In order to promote e-commerce for development, policymakers and analysts increasingly want to know what the conditions are in their countries to support online business activity, and how their countries stack up against others. To this end, the multi-stakeholder eTrade for All initiative, an initiative launched in 2016 at the UNCTAD Ministerial Conference in Nairobi to improve the ability of developing countries and countries with economies in transition to engage in and benefit from e-commerce, has developed a new tool for assessing the e-trade environment at the country level. This tool was developed jointly by UNCTAD and the World Bank Group’s Trade & Competitiveness Global Practice and utilizes data from the International Telecommunications Union (ITU), UNCTAD, the U.N. Office on Drugs and Crime (UNODC), Universal Postal Union (UPU), World Economic Forum, and the World Bank Group.
 

Profiles of the Diaspora: Hanane Benkhallouk

Web Team's picture
Hanane Benkhallouk

“You can take the man out of the country, but you can't take the country out of the man.”
 
A native of Morocco, Hanane Benkhallouk began her career in New York before moving to Dubai in 2005. Along the way, she held senior positions in sales and marketing, communications and business development. She has led multinational, interdisciplinary teams for international market projects – MENA, Asia, Europe and the USA – and in diverse sectors, from finance and banking to retail, real estate investment, franchise development and consulting services.

The potential gain from regional electricity trade in South Asia

Michael Toman's picture

Countries in the South Asia Region (SAR) face a number of operational and economic challenges as they seek to keep up with rapidly growing electricity demands. Our analysis finds that increased regional electricity trade facilitated by expanded cross-border transmission interconnections among SAR countries can contribute significantly to alleviating these challenges.  Cross-border electricity trade could save as much as US$94 billion (in present value terms) in the region during the 2015-2040 period. It would reduce the regional power sector CO2 emissions during the period by 8% even without pro-active measures to reduce CO2 or harmful local pollutants. Moreover, significantly increasing cross-border interconnection and trade will necessitate taking steps that inevitably will reduce substantial existing inefficiencies in national power systems in the region, as well.

The Future is Here: Technology trends currently shaping the world of Logistics

Karuna Ramakrishnan's picture
Also available in: Spanish

Emerging technologies are transforming global logistics. The evidence is everywhere: Logistics companies are exploring autonomous fleets and “lights-out” warehousing, and are looking to Big Data for transport management and predictive analytics. Crowdsourcing start-ups are using a high-tech/asset-light business model. And e-brokerage platforms are providing real-time information from pickup to delivery.
 

Weekly wire: The global forum

Darejani Markozashvili's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Turning the Tide Against Cholera
New York Times

Two hundred years ago, the first cholera pandemic emerged from these tiger-infested mangrove swamps. It began in 1817, after the British East India Company sent thousands of workers deep into the remote Sundarbans, part of the Ganges River Delta, to log the jungles and plant rice. These brackish waters are the cradle of Vibrio cholerae, a bacterium that clings to human intestines and emits a toxin so virulent that the body will pour all of its fluids into the gut to flush it out. Water loss turns victims ashen; their eyes sink into their sockets, and their blood turns black and congeals in their capillaries. Robbed of electrolytes, their hearts lose their beat. Victims die of shock and organ failure, sometimes in as little as six hours after the first abdominal rumblings. Cholera probably had festered here for eons. Since that first escape, it has circled the world in seven pandemic cycles that have killed tens of millions.

The Link Between Internet Access and Economic Growth Is Not as Strong as You Think
CFR-Net Politics
Mark Zuckerberg recently published a manifesto about the future of Facebook and our increasingly technology-saturated world. In it, he argued “Connecting everyone to the internet is…necessary for building an informed community.” For those familiar with Zuckerberg’s statements, this is a familiar claim. He argues that not only should we connect everyone in the world to the internet, but that doing so is a necessary step in solving some of the planet’s most pernicious problems. Zuckerberg is not alone in this thinking. Huge sums of money have been invested in projects that connect the billions of people who lack an internet connection. These schemes tend to present digital connectivity as a mechanism to achieve key social and economic developmental goals. This is especially true in Africa–the part of the world with both the lowest incomes and rates of connectivity. Because of the vigor with which such claims are made, and the vast resources that tech companies are able to deploy, we decided to examine the actually existing evidence base that might support them. In a new paper, we set out to test those claims.

Economic diversification: A priority for action, now more than ever

Cecile Fruman's picture

The global economy is stagnating, and uncertainty about its future is rising. These trends weigh heavily on countries that depend on the production and export of a small range of products, or that sell products in only a few overseas markets.  Prices of the minerals and other basic commodities that dominate the exports of many poor countries have also declined sharply. All of this points up the need for diversification strategies that can deliver sustained, job intensive and inclusive growth.

The World Bank Group’s Trade & Competitiveness Global Practice (T&C), a joint practice of the World Bank and International Finance Corporation (IFC), is working with a growing roster of client countries eager to achieve greater economic diversification. This is a worthy goal regardless of economic conditions, but especially so now, as developing countries with sector-dependent economies face mounting pressures.

Chile is an example of a diversified economy, exporting more than 2,800 distinct products to more than 120 different countries. Zambia, a country similarly endowed with copper resources, exports just over 700 products — one-fourth of Chile’s export basket — and these go to just 80 countries. Other low-income countries have similarly limited diversified economies. The Lao People’s Democratic Republic and Malawi, for example, export around 550 and 310 products, respectively. Larger countries that export oil, such as Nigeria (780 products) and Kazakhstan (540 products), have failed to substantially expand the range of products they produce and export.


AJG Simoes, CA Hidalgo. The Economic Complexity Observatory: An Analytical Tool for Understanding the Dynamics of Economic Development. Workshops at the Twenty-Fifth AAAI Conference on Artificial Intelligence. (2011)
http://atlas.media.mit.edu/en/profile/country/chl/#Exports

While the sluggish global economy is creating economic problems for traditional exports, other economic trends offer new routes and opportunities for poor countries to diversify. The trend toward the spatial splitting up of production across wide geographic areas, and the emergence and growth of regional and global value chains, offer new ways for developing countries to export tasks, services and other activities. Value chains offer developing countries a path out of the trap of having to specialize in whole industries, with all of the cost and risk that such a strategy entails.

From open data to a collaborative community – looking ahead with TCdata360

Prasanna Lal Das's picture
TCdata360: Your Source for Open Trade and Competitiveness Data


It’s now been about a month since the Trade & Competitiveness Global Practice of the World Bank Group launched TCdata360, our new platform for open trade and competitiveness data from the Bank and external sources. The initial response has been overwhelmingly positive, and it has included a mixture of the anticipated and the unexpected.

Egypt has been the most popular country page during this period, the indicator on the number of days to start a business has been the second most visited page (though it seems to be ceding its spot to the page on venture capital availability) and we have been struck by the number of people that have searched for information on countries that have laws against sexual harassment in the work place (it’s steadily been one of the top 10 most visited pages on the site). Our data stories have attracted attention as well, especially in social media and there has been consistent interest in the API.

The question now is: Where should we take TCdata360 from here? How does a platform grow after the initial excitement around its release has dissipated? How can you or your organization contribute to the growth of the platform?

Here are a few of our ideas at the moment:
 
  • More data – we have a growing inventory of new datasets.
  • Better user experience – we are tweaking several things, while keeping what people like (which is most of the site).
  • More analytics – we have experimented with Datascoper, a tool to uncover hidden patterns in data, but work remains to make these tools more usable and meaningful.
  • Better engagement with our users – we want to show off your work on the site. Tell us about the insightful work you do using our data; we will share it with all our users. And we are all ears about your ideas for other ways to collaborate.
  • Continue contributing to the open data community – we plan to offer data literacy and other support; stay tuned for greater emphasis on applied data; we are working to make this and other data truly useful in an applied sense to governments, the private sector, and others.
  • Better linkages with the open source world – we built the site on open source and want to share our work with the community; we are constantly looking for tools that we can either integrate into the site or that we should be using. Tell us about them.


Help us improve our list – write us at tcdata@worldbank.org or tweet us at #TCdata360.

Things to do with Trade and Competitiveness Data… thank you API

Alberto Sanchez Rodelgo's picture

Who are Spain's neighbors? Is Canada closer to Spain than Portugal? What about Estonia or Greece? The answer? Depends on the data you are looking at!

Earlier this week I crunched data based on a selected list of indicators from the new Open Trade and Competitiveness platform from the World Bank (TCdata360) and found some interesting trends[1]. In 2009 Spain was closer to economies like Estonia, Belgium, France and Canada while 6 years later in 2015, Spain's closest neighbors were Greece and Portugal. How and when did this shift happen?

Other trends I spotted using the same data? It seems the Sub-Saharan region ranks the lowest in Ease of Doing Business, that in 2007 Israel held the record for R&D expenditure as % of GDP, while in the same year Malta topped FDI net inflows as % GDP, and that the largest annual GDP growth in the last 20 years occurred in Equatorial Guinea in 1997.

Figure 1: Dots represent values for an economy at a given point in time for years 1996 to 2016 overlaying their box-plot distributions. Colors correspond to geographical regions.


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