Economic Complexity Index
Definition
The Economic Complexity Index measures the sophistication and diversity of a country’s export basket. It is calculated based on the variety of products a country exports competitively and the number of other countries that also export those products. Higher complexity indicates a more knowledge-intensive economy.
Context
Oman’s ECI ranking reflects its heavy reliance on hydrocarbon exports, which are low-complexity products exported by many nations. Improving the ECI score requires developing and exporting a wider range of sophisticated manufactured goods and services.
Example
If Oman develops the capacity to export specialised petrochemical products, precision-manufactured components, and advanced digital services, its economic complexity score would rise, signalling a more diversified and resilient economic structure.