Introduction to the Economic Complexity Index (ECI)
The Economic Complexity Index (ECI) is a measure developed by Harvard University’s Growth Lab to evaluate the current state of productive knowledge in a country. The index is based on international trade statistics, focusing on exports and imports by product and country.
Mexico’s Recent Achievement
In the 2023 evaluation, Mexico has reached a record-high position of 17 in the ECI, moving up from its previous ranking. This new position is compared to the 2022 ranking.
Secretary Marcelo Ebrard’s Announcement
During the event “Lo Hecho en México está Mejor Hecho,” Secretary of Economy Marcelo Ebrard proudly announced Mexico’s new position: “I have the latest publication, and we are number 17… The United States is ranked 15. I repeat the data: the complexity of Mexico’s economy is position 17; the United States of America is ranked 15.”
Understanding the Economic Complexity Index
The Harvard Growth Lab explains that economic development requires the accumulation of productive knowledge and its application in increasingly complex industries. The ECI assesses a country’s productive knowledge by evaluating the diversity and complexity of successfully exported products.
2023 ECI Rankings
According to the 2023 ECI, Singapore, Switzerland, and Japan maintained their top positions (1st, 2nd, and 3rd, respectively), just as they did the previous year. Taiwan and South Korea followed closely behind in 4th and 5th places.
- Singapore – 1st
- Switzerland – 2nd
- Japan – 3rd
- Taiwan – 4th
- South Korea – 5th
The United States held steady at 15th place, while China improved from 17th to 16th. Canada, however, dropped from 45th to 50th place.
Ebrard’s Remarks on Mexico’s Economic Standing
Ebrard emphasized Mexico’s economic significance during the event, stating: “What we need to start understanding and becoming familiar with is that we are much more than we think. For example, no one exports more to the United States than Mexico. We export more to the United States than China, Germany, and Japan combined.”
Historical Context of Mexico’s ECI Performance
Analyzing the ECI from 2000 to 2022, Mexico achieved its highest rankings of 18 in 2005 and 2021. Conversely, it reached its lowest rankings of 22 in 2006 and 2022.
Ebrard’s Concluding Remarks
“We need to start understanding and becoming familiar with the fact that we are much more than we think,” Ebrard concluded. “Mexico has built a powerful economy, one of the world’s leading manufacturing economies. The first step for us to reach great heights in this new phase of our country is to have awareness of who we are.”
Key Questions and Answers
- What is the Economic Complexity Index (ECI)? The ECI is a measure developed by Harvard University’s Growth Lab to evaluate the current state of productive knowledge in a country based on international trade statistics.
- What is Mexico’s current ranking in the ECI? Mexico has achieved a record-high position of 17 in the 2023 ECI evaluation.
- Which countries lead the 2023 ECI rankings? Singapore, Switzerland, and Japan maintained their top positions in 2023.
- How did the United States and China fare in the 2023 ECI? The United States remained at position 15, while China improved from 17th to 16th place.
- What did Mexico’s Secretary of Economy, Marcelo Ebrard, say about Mexico’s economic standing? Ebrard highlighted Mexico’s significant role in international trade, emphasizing that it exports more to the United States than any other countries like China, Germany, and Japan combined.
