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ERIA-DP-2023-27
ERIADiscussionPaperSeries
No.499
DynamicsofTradeCharacteristics,Competition
Networks,andTradeFragilityinASEANEconomies
C.T.VIDYA*
AssistantProfessor,CentreforEconomicandSocialStudies(CESS),Hyderabad,India
February2024
Abstract:Thispaperanalysesthetradecharacteristics,competitionnetworks,andfragilityofglobaltradeingoodsintheAssociationofSoutheastAsianNations(ASEAN)economies,particularlyinthecontextofthecoronavirusdisease(COVID-19).Thestudycoversthe10ASEANMemberStatesand110tradepartners,usingtheHarmonizedSystem(HS)6-digitproductclassificationfrom2010to2021.ThefindingsrevealthatASEANdominateswithtradecomplementarity.Denseandintensecompetitionnetworksarefound.Theelectricalandmachineryimportsfromcentralplayersarehighlysensitivetoshocks,withelectronicsalsobecomingsusceptibletoshocksafterthepandemic.ThestudyalsoshowsthatliquefiednaturalgasproductsandcountriessuchasSingapore,Indonesia,Brunei,andMyanmarexperiencedincreasedshocks.Theresearchunderscorestheimportanceofpolicymakersprioritisingtheirunderstandingoftradelinkagesandpotentialspillovereffectswhenformulatingpoliciestomitigatetheimpactofshocks.Thefindingshaveimplicationsforpolicymakers,highlightingtheneedforthemtotakeaholisticapproachwhendevisingpoliciesandstrategiestomitigatethe
adverseeffectsofglobalshocks.
Keywords:Exportsimilarity,tradecomplementarity,competitiontradenetworks,trade
fragility,ASEAN
JELClassification:F14,F15,L14
*Email:ctvidya@
2
1.Introduction
Thisresearchpaperinvestigatesthetradecharacteristics,competitionnetworks,andfragilityofglobaltradeingoodsintheAssociationofSoutheastAsianNations(ASEAN)economies,particularlyinthecontextofthecoronavirusdisease(COVID-19)pandemic’sunprecedentedimpactontheglobaleconomy.Oneofthemostsignificantimpactsofthepandemichasbeenthereductionininternationaltradeduetosupplychaindisruptions.Aseconomiesareheavilyinterdependentthroughglobalvaluechains,theresultingfragmentation
causedbythepandemichasdeepenedtraderelationsamongstnations.
Tradeanddevelopmentdependoncompetitivenessandcomplementarityamongstcountries.Tradeliberalisationcanleadtotradecompetitioniftwocountries’exportingstructuresaresimilar,limitingtheirpotentialforinter-countrytrade.However,iftheproductsimilarityincreasesovertime,theexportstructuresofthetwocountriesorregionsconverge,makingthemmorecompetitiveinthethirdmarket(FingerandKreinin,1979;Pearson,1994).Conversely,whentheexportingstructureofonecountryissimilartotheimportingstructureofanother,strongcomplementarityexistsbetweenthem,providingbetteropportunitiesfortradecooperation(Liu,Xu,andZhang,2020).TheASEANeconomies,inparticular,dependheavilyonChina,theirlargestexternaltradepartner,andarewellintegratedintoglobalsupplychains(ASEAN,2022).TheCOVID-19outbreakinChinaandsubsequentlockdownmeasuresdisruptedconnectivitybetweenASEANMemberStates(AMS)andtheirtradingpartners.Asaresult,theseeconomieshavebeenexposedtorisksofsupplychaindisruptions,whichhaveadverselyaffectedtheirproductivityandeconomicrecoveryfromtheCOVID-19inducedrecession.Intheaftermathofthecrisis,policymakershavebecomeincreasinglyconcernedaboutcountries’vulnerabilitytoexternalsectorshocksandtheirabilitytobuild
resilienceagainstfuturesupplychaindisruptions(Golan,Jernegan,andLinkov,2020).
ASEANhasemergedasaleadingblocpromotingtradeliberalisationandregionalism,withall10ASEANincreasingtheirtradeingoodsovertheyears.In2020,theregion’stotalexportswerevaluedat$1,356.89billion,whileimportswerevaluedat$1,234.34billion.ASEANeconomiesareintegratedwiththeinternationalmarketandserveasthemainmanufacturinghubforelectronics,machinery,automobileparts,andcomponents.However,recenttradetensionsandrisingproductioncostsinChinahaveledmultinationalcompaniestoshifttheiroperationstosomeASEAN,creatingAsiansupplychainsthatexcludeChina.AlthoughJapan,China,andtheRepublicofKorea(henceforth,Korea)dominateAsian
supplychains,VietNam’semergenceinthesupplychaincreatesopportunitiesforother
3
AMS.However,theseeconomiesremainvulnerabletotradeshocksduetotheirrelianceon
Chinaandsupplychaindisruptions.
ThispaperemphasisestheimportanceofASEANeconomiesstrengtheningtheirresiliencetoexternalshocks,whichcanbeachievedbydiversifyingtheirtradepartners,analysingthefragilityofspecificproductgroups,andidentifyingcompetitionpatternsintradenetworks.ThestudywillprovideareferenceforquantifyingthefragilityoftradeingoodsinASEAN.Moreover,inthepolicydomain,mitigatingtherisksoffragilityand
strengtheningresiliencemayhelpinthelongrun.
Furthermore,understandingcompetitionpatternsintradenetworkscanprovidevaluableinsightsintothedynamicsoftradeandhowtheymayimpactthefragilityofglobaltradein
goods.Byidentifyingpotentialcompetitionclusters,policymakerscandevelopappropriate
strategiestoenhancetheircompetitivenessandreducetheirvulnerabilitytoexternalshocks.Second-generation2trademodelstheoreticallysupporttradeinterconnectednessand
competitionpatternsthroughnetworks,i.e.thenewtradetheory,whichassumestheexistenceofproductdifferentiation,increasingreturnstoscale,andimperfectcompetition(Krugman,1980;HelpmanandKrugman,1985).Duetothecomplexityandinterdependenceoftrade,thetradecompetitionpatternscallforcomplexnetworkanalysis(Liu,Xu,andZhang,2020).Asconsumers’demandforvarietyincreases,itimpactsmarketsizeandtradeopenness,fosteringproductvarietyandintra-industrytrade.ThepremiseoftheassumptionthatindustryconsistsofhomogenousproducerswasreconsideredinBernardandJensen(1995)andBernardetal.(2003).Meanwhile,Melitz(2003)discussedtheroleoftradeinintermediatesindeterminingtradepatterns.Heshowedthattradeinintermediatescanreallocateresourcesamongstfirms,withthemostproductivefirmsexpandingtheirexportsandtheleastproductivefirmsexitingthemarket.Thisreallocationofresourcesleadstoincreasedproductivityandeconomicgrowth.Manystudieshaveexaminedthecompetitivenessandcomplementarityoftradepatternsinsector-specificcasessuchasglobalwheattrade(Dongetal.,2018);globaloiltradenetworks(Zhang,Ji,andFan,2014);liquefiednaturalgas(Chenetal.,2016);ironore(Haoetal.,2018);andagri-trade(Liu,Xu,
andZhang,2020).
2First-generationtrademodelsemphasisedthebasicassumptionsoftheneo-classicaltradetheoryofcomparativeadvantage.However,theneo-classicaltradetheoryfailedtoexplainthenatureoftradepatternsamongstcountries,productvarieties,locations,andindustrialclusters.Theanswerisfoundinthesecond-generationmodels,i.e.newtradetheory.
4
Mostoftheabovestudiesareonsector-specificcasesanddonotcoveraregiontorevealitstradedynamics.Moreover,theydonotcovertheCOVID-19period.Nguyen,Pham,andVallée(2017)investigatedexportsimilarityamongstASEAN+3countriesusingsimilarityindexanalysisfrom1990to2014.Thestudywasconfinedtointra-regionaltradepatternsanddidnotcoverpotentialpartnersfromextra-regionaltrade.AsASEAN’sextra-regionaltradeisfaraheadofintra-regionaltrade,thereisscopeforfurtherresearch.Identifyingsuchcharacteristicswouldhelppolicymakersunderstandthepatternofmultilateraltraderelationships.Untilrecently,studiesontradenetworkanalysisbasedonthecompetitivenessandcomplementarityofgoodshavebeenscarce.Inparticular,product-wisespatialdistributionbasedoncompetitivenessandcomplementarityhasnotbeenresearched(Liu,Xu,andZhang,2020).Studiesonthefragilityofthetradenetworkarealsorelativelyscarceintheliterature.However,thepioneeringworkofKorniyenko,Pinat,andDew(2017)analysedsupplyshockrisksinthehighlyinterconnectedglobalsystem.Theirstudyusedhighlydisaggregatedinternationaltradedatatoassessthespillovereffectsofsupplyshocks
fromtheimportofgoods.
Inthiscontext,thispaperdiscussesthefollowingquestions:(i)DoescompetitivenessorcomplementaritydominatetradeingoodsamongstASEANanditspartners?(ii)Hasthepatternoftradeingoodschanged,intermsofcompetitivenessandcomplementarity?(iii)Whichinter-regionalandintra-regionalcountrypairsarethemostcompetitive?(iv)HavecompetitionpatternsinthenetworkschangedsinceCOVID-19?(v)Whichproductsareconsideredrisky,andhowsensitivearetheimportbasketsinthetradenetworksinASEAN?and(vi)Istherearoleforcentralplayersinspreadingtheriskinessandvulnerabilityoftrade
ingoodsnetworks?
Tocomplementtheexistingliterature,thispaperempiricallyanalysesthechangesintradecharacteristicsandtradecompetitionpatternsintermsoftradenetworksinASEAN.Thestudyexploresintra-regionalandinter-regionaltradepatternsintheregion.Italsoattemptsto
measurethefragilityoftradenetworks.
TheapproachofthestudydelvesintothetradedynamicsbetweenASEANmemberstatesandtheir110globalpartners,focusingonthecompetitivenessandcomplementarityofmanufacturedgoods.WeemploytheExportSimilarityIndex(ESI)andtheTradeComplementarityIndex(TCI)attheHarmonizedSystem6-digitlevel,coveringtheyears2010to2021,togaugeintra-regionalandinter-regionaltradepatterns.Furtherenrichingouranalysis,weconstructtradenetworkmodelstoidentifycompetitionnetworkpatterns,
highlightingproduct-wiseleadingcountrypairsonintraandinter-regionalscales.This
5
frameworkilluminatesthecentralplayers,thedepthofconnectivity,theextentofinterconnectedness,andtradedensitywithinandbeyondtheregion.Finally,thestudydelvesintothefragilityofthesetradenetworks,employingmetricslikecentralplayersandthe
clusteringcoefficienttomeasureproduct-wisevulnerabilities.
ThestudyhighlightsthedominanceoftradecomplementarityintheASEANregion,particularlyforproductssuchasbituminousminerals,naturalgas,andelectricalitems,leadingtoincreasedcompetitivenessandefficiency.Tradenetworksingoodsaredenseandcomplex,varyingacrossdifferentproductcategories.Electricalproducts,especiallythoserelatedtotelecommunications,arevulnerable,particularlysincethepandemic,emphasisingtheimportanceofeffectiveriskmanagementstrategiesforsupplychainresilience.Thestudyalsoidentifiedpotentialspilloverrisksamongstactivetradepartners,withproductslikebituminousminerals,liquefiednaturalgas,andtelephonesforcellularnetworkshavinghigh
clusteringcoefficients,indicatingahigherlikelihoodofspilloverrisks.
Themajorcontributionsofthestudyarethefollowing:ThisstudyexaminesthetradedynamicsintheASEANregionbyuniquelyencompassingtheimpactsoftheCOVID-19era.Unlikemuchofthecurrentliterature,whichoftenzeroesinonsector-specificscenarios,thisstudybroadensitsscopetoencapsulateintra-andinter-regionalASEANtradepatterns.Itbridgescriticalgapsinexistingstudiesandanalysestheproduct-wisespatialdistributionbasedoncompetitivenessandcomplementarityandthefragilityoftradenetworks.Richempiricalanalysesrevealnuancedinsights,suchasdominantpatternsoftradecomplementarityandthepronouncedvulnerabilitiesofcertainproductssincethepandemic.Theelucidationofcentralplayersandsensitiveproductsfromthefragilityanalysisprovidespolicymakerswithvaluableinformationfordevelopingtargetedpoliciestoimproveresilienceandmitigatethenegativeeffectsofshocks.Furthermore,thepaperaccentuatestheimperativeofsynchronisedpolicyinterventionsandregionalcollaborationamongstASEANMemberStates,underscoringthesignificanceofcooperativeapproachesinmitigatingsharedchallenges.Overall,thisstudy’sfindingsandpolicyimplicationsoffervaluableinsightsforpolicymakersandresearchersinterestedinunderstandingthevulnerabilityandresilienceof
interconnectedeconomiesintheASEANregionandbeyond.
1.1.LiteratureReview
Theglobaltradelandscapehaschangeddramaticallyoverthepastfewdecades(IMF,2011).SeminalstudiesonthedeterminantsofexportsandimportsincludeGoldsteinand
Khan(1978)andArize(1987).Thereisalsosubstantialliteratureonthesupplyanddemand
6
oftradeandcompetitiveness(Farole,GuilhermeReis,andWagle,2010;Bayoumi,Saito,andTurunen,2013),aswellasresearchonthestructureandpatternsofglobaltradebasedontheworldtradenetworkapproach(Fagiolo,Reyes,andSchiavo,2010).However,thereisalackofstudiesmeasuringexportsimilarityandtradecomplementarityandtheircompetition
networks.Moreover,thefragilityofthiscompetitionnetworkisalsolessexplored.
Theconceptofcompetitivenessandcomplementarityamongstcountrieshasreceivedsignificantattentioninscholarlyresearch.Overalltradehasemergedasakeyindicatorofthedynamicrelationshipsamongstnations.Researchershaveextensivelyexploredthevariousaspectsoftradeanditseffectsoneconomicgrowth,development,andglobalisation.Forinstance,Rodrik(1999)foundthatoveralltradeopennesshasapositiveimpactoneconomicgrowth,whileSachsandWarner(1995)arguedthatitcanleadtoincreasedincomeinequality.Furthermore,tradecomplementarity,whichreferstothedegreeofcomplementaritybetweenthegoodsorservicesproducedbydifferentcountries,hasalsoreceivedsignificantattentioninscholarlyresearch.GrubelandLloyd(1975)demonstratedthatcountrieswithhighlevelsoftradecomplementaritytendtoengageinmoretradeandhavemorestabletraderelationships.Asforrelevantresearchmethods,traditionalanalysisoftradecompetitivenessandcomplementarityhasmainlybeendoneusingtherevealedcomparativeadvantage(RCA)index(Balassa,1965).Later,theexportsimilarityindex(ESI)wasdevelopedbyFingerandKreinin(1979)andthetradecomplementarityindex(TCI)wasdevelopedbyDrysdale(1969)andKojima(1964).FingerandKrenin(1979)developedtheESItoidentifyregionsthatarelikelytobeengagedintradecompetition–thehighertheESI,
themoreintensethecompetitiverelationshipsbetweenthetworegions.
Tradeliberalisationhasbeenfoundtopromoteincreasedcompetition,spurinnovationandproductivitygrowth,andprovideopportunitiesforgrowthanddiversification.Tradecanfostercomplementarityamongstcountriesbypromotingtheexchangeofgoodsandservicesthatarecomplementaryinnature,leadingtospecialisationandincreasedefficiency.Forexample,acountrythatexcelsinproducingcapital-intensivegoodscanbenefitfromimportinglabour-intensivegoodsfromanothercountry.Numerousstudieshaveexploredtheimpactoftradeoncompetitivenessandcomplementarity.Similarly,HummelsandKlenow(2005)showedthattradecanleadtocomplementaritybypromotingtheexchangeofgoodsthatcomplementeachother.EmpiricalresearchstudiesbyLingzhi(2021);Liu,Xu,andZhang,2020);andDongetal.(2018)usedtheESIandtheTCItoquantifythecompetitivenessandcomplementarityofdifferentcountrypairs.Thestudy,whichfocusedon
thecocoonsilktrade,revealedthatChina’ssilktradewithSoutheastAsiaishighly
7
complementary.Inrecentyears,studieshavebeenextendedtoexaminingthecompetitivenessandcomplementarityoftheconstructionofthedynamicnetworkapproach.Forexample,Dongetal.(2018)examinedthecompetitivenessofglobalwheattradebycreatingatradingcompetitivenessnetwork,whileLiu,Xu,andZhang(2020)analysedthecompetitivenessandcomplementarityofagriculturaltradeamongst65countriesintheBeltandRoadInitiative(BRI)from2005to2016.Thestudyrevealedthatnetworktiesamongstsamplecountriesincreasedovertime.ThetradedensityoftheESIandTCI-networksalsoincreasedovertime,butthecomplementaritywasgreaterthanthecompetitiveness.Similarly,severalotherstudiesontradecomplementaritybetweenChinaandBRIcountrieshavefoundthatcomplementarityishigherthancompetitiveness(Han,Luo,andZou,2015;Wang,2017;
Chen,Chen,andYao,2020).
Researchonsector-specificcompetitionpatternsoffersessentialinsightsintoglobalmarketdynamics.Chen(2016)usednetworkanalysistoexaminethecompetitivelandscapeofthegloballiquefiednaturalgas(LNG)trade.ThestudyfoundthatcompetitiverelationshipsamongstLNGexportersincreasedsignificantlyfrom2005to2014,shiftingfromregionaltomoreglobalisedcompetition.Similarly,Hao,An,Sun,andZhong(2018)usedcomplexnetworkanalysistoexplorecompetitionpatternsinglobalironoretrade.Theirfindingsrevealedacore-peripherystructureintheironoreimportcompetitionnetwork,withintensifyingcompetitionovertheyears.Thestudyfurtherfoundthatcorecountriesexhibitedhighercompetitionintensitythanperipheralcountries,withcompetitionintensitycorrelatingpositivelywithGDPandsteelproductionandinverselywithgeographicdistancebetween
tradepartners.
Inconclusion,theliteratureontradeandcompetitivenessemphasisesthecrucialrolethattradeplaysinenhancingtheeconomicperformanceofcountries.Byunderstandingtheintricaciesoftraderelationships,policymakerscanmakebetterdecisionstopromote
economicgrowthandstability.
Anotherstrandofliteratureisonthetradenetworksinacompetitionpattern.Therearemanystrandswithinnetworkliteratureinthecontextofinternationaltrade.Inacomplexnetworkmodel,theworldisconsideredasetconsistingofmanyvertices(i.e.countries)andedgesbetweenthesevertices(countries).TheevolutionoftheworldtradenetworkortheWorldTradeWebhasbeenstudiedasabinarynetwork,whereanedgebetweenanytwocountriesisconsideredinterconnecteddependingonwhetherthetradeflowislargerthanagiventhreshold(DeBenedictisandTajoli,2011;SerranoandBoguná,2003).However,ina
binarynetwork,alltheinterconnectionsaretakenasequal,whichmaymisestimatetheimpact
8
oftraderelationshipheterogeneity.Hence,theworksofGarlaschelliandLoffredo(2004)andFagiolo,Reyes,andSchiavo(2008)adoptedweightednetworkapproachestocomparethe
degreesandpatternsoftradeintegration.
Onestrandisbasedonapositionalanalysisofthetradeandintegrationpatternsofeachcountry(KaliandReyes,2010;Vidya,2022;VidyaandPrabheesh,2020),whileanothercomprisesstudiescentredonthesector-specificanalysisofinternationaltradenetworks(AmighiniandGorgoni,2014;Vidya,Mummidi,andAdarsh,2023).Advancedtestingofcomplementarityandcompetitivenessinanetworkiscarriedoutbyafewstudiesinspecificcommoditycontexts(Liu,Xu,andZhang,2020;Zhang,Ji,andFan,2014;Chenetal.,2016;Dongetal.,2018).Thethirdstrandofliteratureanalysestheshocksandfragilityinamodel.Althoughseveralstudiesmeasureandanalysetheshocksinaneconomicsystembyapplyingeconometricapproaches(KoseandRiezman,2001;FrankelandRose,1998;Imbs,2004),theliteratureislargelysilentonmeasuringthevulnerabilitiesandshocksinintermediatetrade
andsupplyshocks.
Globalshocks–intheformofwars,economicrecessions,andpandemics–severelydisrupttheinterconnectionsandgeneratecascadingconsequencesfromthelocaltotheglobalscale(ViñaandLiu,2023).Theimpactofashockcanbeincreasedthroughinterconnectednessoftheglobaleconomy.Forexample,theCOVID-19pandemicoriginatedinChinabuthashadasignificantimpactoncountriesallovertheworld.ResearchbyBarbero,deLucio,andRodríguez-Crespo(2021)andDudekandŚpiewak(2022)supportsthisview.Theyfoundthatglobalshockscanhaveasignificantimpactontheglobaleconomy,whichcanbeamplifiedbytheinterconnectednessoftheglobaleconomy.Theynotedthatpolicymakersneedtobeawareofthepotentialimpactofglobalshocksandtakestepstomitigatetheimpactofsuchshocks.StudiesbyGuerrierietal.(2020),Abbasetal.(2021),andGruszczynski(2020)discussthelargedisruptionstolaborsupply,supplychains,thetourismindustry,andinternationaltradecausedbythepandemic.Thedisruptionscausedbythepandemichaveledtoadecreaseintheflowofgoodsandservices,negativelyimpactingtheglobaleconomy.ApioneeringworkinthefieldofsupplyshockrisksinthehighlyinterconnectedglobalsystemwasconductedbyKorniyenko,Pinat,andDew(2017).Theyfoundthatashocktoahighlyinterconnectedeconomyexposesothereconomiesinthe
networktoequalrisk,aseacheconomyisdependentontheothers.
FollowingtheworkofKorniyenko,Pinat,andDew(2017),weassessthesensitivityofimportbasketstosupply-sideshocksusingnetworkanalysisparameters.Weanalyse
individualcommoditycharacteristics,suchasquality,cyclicality,andcomplexity,toestimate
9
theriskinessandvulnerabilityofimportbaskets.Thisisdonebyconsideringthepresenceofcentralplayersandclusteringtendencies.Ourmethodologyhelpsidentifyvulnerableproductsinglobaltradebasketsbycategorisingthemastopexportersandimportersofthese
products.
First,weaimtoanalysethetradecompetitivenessandcomplementaritybetweenASEANandtheirtradepartners.Toachievethis,wemeasuretheESIandTCIfortheHarmonizedSystem(HS)6-digitlevelmanufacturingproductsofASEAN,andanalysethecompetitivenessandcomplementarityofAMSandtheirtradepartnersusingtradenetwork
analysis.
Second,weaimtoanalysethefragilityofthetradenetworksandproposeeffectivemitigationpolicymeasuresforASEAN.Toachievethis,wemeasuretheriskinessofproductsandtheintensityofshocksbeforeandaftertheCOVID-19pandemic.Wealsoanalysethevulnerabilityofspecificsectorsindifferentcountriesandinvestigatehowthese
sectorsrespondedtoexternalshocks.
Basedonourfindings,weprovidesuggestionsandproposeeffectivemitigationpolicyactionstoimprovetheresilienceofthetradenetworksandenhancethecompetitivenessof
theASEAN.
2.DataandMethodology
ThestudyusesthebilateralgoodstradedataofASEANfrom2010to2021fromtheInternationalTradeCentredatabase.TheHS6-digitlevelgoodsareapplied.Thesampleconsistsofthe10ASEANandthe110leadingpartnersofASEAN.TheHScodesand
classificationsaregiveninTable1.
Table1:Top10ExportsofGoodsbyHS6-DigitCode–ASEAN
HSCode
ShortProductName
DetailedProductName
HS
854231
Electronics–
integratedcircuit–processors
Electronicintegratedcircuitsasprocessorsand
controllers,whetherornotcombinedwithmemories,converters,logiccircuits,amplifiers,clockandtiming
circuits,orothercircuits
HS
854239
Electronics–
integratedcircuits
Electronicintegratedcircuits
HS
271019
Bituminous
mineralswithout
biodiesel
Petroleumoilsandoilsfrombituminousminerals,notcontainingbiodiesel,notcrude,notwasteoils;
preparationsn.e.c.containingbyweight70%ormore
10
HSCode
ShortProduct
Name
DetailedProductName
ofpetroleumoilsoroilsfrombituminousminerals;notlightoilsandpreparations
HS
851712
Telephonesfor
cellularnetworks
Telephonesforcellularnetworksorforotherwireless
networks
HS
851770
Electricalpartsoftelephone
Telephonesetsandotherapparatusforthetransmissionorreceptionofvoice,images,orotherdata,viaawiredorwirelessnetwork;parts
HS
854232
Electronics-
memories
Electronicintegratedcircuitsasmemories
HS
271012
Bituminous
minerals
Petroleumoilsandoilsfrombituminousminerals,notcontainingbiodiesel,notcrude,notwasteoils;
preparationsn.e.c.containingbyweight70%ormoreofpetroleumoilsoroilsfrombituminousminerals;lightoilsandpreparation
HS
847170
Storageunitsfordataprocessing
Unitsofautomaticdataprocessingmachines;storage
units
HS
271111
Naturalgas
liquefied
Petroleumgasesandothergaseoushydrocarbonsliquefied,naturalgas
HS
851762
Electrical
communication
apparatus
Communicationapparatus(excludingtelephonesetsorbasestations);machinesforthereception,conversionandtransmissionorregenerationofvoice,images,orotherdata,includingswitchingandroutingapparatus
ASEAN=AssociationofSoutheastAsianNations,HS=HarmonizedSystem,n.e.c.=notelsewhereclassified.
Notes:Theshortproductnamesarecreatedbytheauthortomakethediscussionclearandspecific.ThedetailedproductnamesaretakenfromtheUnitedNationsStatisticsDivision.
Source:UnitedNationsStatisticsDivision(n.d.),Classifications
/unsd/classifications/Econ
(accessed10August2022).
onEconomic
Statistics.
Empiricalmethodology
ExportSimilarityIndex(ESI):isemployedtomeasurethedegreeofsimilaritybetweentwocountriesconcerningtheirexportproductcompositionstoasharedtarget
market.Theformulaforitscalculationisasfollows:
InEquation(1),xadenotestheexportvalueofaproductiinacountrya;xasignifiesthetotalexportvalueofcountryaastotheglobalmarket.Similarly,xsindicatestheexportvalueofproductiinacountryb,xprepresentsthetotalexportvalueofcountrybastothe
worldmarket.ESImeasuresthetradecompetit
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