Bangladesh has backtracked 25 positions in the global Economic Complexity Index (ECI) in a decade, which reflects its poor progress in economic diversification in terms of exports. The country was ranked 123rd among 129 states in the ECI 2017, whereas it was 98th in the ECI 2008.
Japan has been able to keep the number one position in the ECI for the last two decades, as it gained the top 2.30938 points in the ranking. Switzerland and Germany have been ranked second and third respectively. Countries like India, Vietnam, Pakistan, Ethiopia and Zambia, however, are ahead of Bangladesh in the ranking. The ECI measures knowledge intensity of an economy by considering the knowledge intensity of the products it exports.
The index was developed in 1980s by Cesar A Hidalgo, from MIT Media Lab, and Ricardo Hausmann, from Harvard University.
Source: The Financial Express; Monday, 25 March 2019