Abstract
Using the United Nations COMTRADE database [United Nations Commodity Trade Statistics Database, available at: http://comtrade.un.org/db/. Accessed November (2014)] we construct the Google matrix G of multiproduct world trade between the UN countries and analyze the properties of trade flows on this network for years 1962−2010. This construction, based on Markov chains, treats all countries on equal democratic grounds independently of their richness and at the same time it considers the contributions of trade products proportionally to their trade volume. We consider the trade with 61 products for up to 227 countries. The obtained results show that the trade contribution of products is asymmetric: some of them are export oriented while others are import oriented even if the ranking by their trade volume is symmetric in respect to export and import after averaging over all world countries. The construction of the Google matrix allows to investigate the sensitivity of trade balance in respect to price variations of products, e.g. petroleum and gas, taking into account the world connectivity of trade links. The trade balance based on PageRank and CheiRank probabilities highlights the leading role of China and other BRICS countries in the world trade in recent years. We also show that the eigenstates of G with large eigenvalues select specific trade communities.
Similar content being viewed by others
References
United Nations Commodity Trade Statistics Database, http://comtrade.un.org/db/. Accessed November 2014
World Trade Organization, International Trade Statistics 2014, http://www.wto.org/its2014/. Accessed November 2014
P.R. Krugman, M. Obstfeld, M. Melitz, International Economics: Theory & Policy (Prentice Hall, New Jersey, 2011)
S. Dorogovtsev, Lectures on Complex Networks (Oxford University Press, Oxford, 2010)
S. Brin, L. Page, Computer Networks and ISDN Systems 30, 107 (1998)
A.M. Langville, C.D. Meyer, Google’s PageRank and Beyond: the Science of Search Engine Rankings (Princeton University Press, Princeton, 2006)
A.D. Chepelianskii, arXiv:1003.5455[cs.SE] (2010)
A.O. Zhirov, O.V. Zhirov, D.L. Shepelyansky, Eur. Phys. J. B 77, 523 (2010)
L. Ermann, K.M. Frahm, D.L. Shepelyansky, arXiv:1409.0428[physics.soc-ph] (2014)
Web page Maps of the world, http://www.mapsofworld.com/. Accessed December 2014
L. Ermann, D.L. Shepelyansky, Acta Phys. Pol. A 120, A158 (2011)
L. Ermann, D.L. Shepelyansky, Phys. Lett. A 377, 250 (2013)
D. Garlaschelli, M.I. Loffredo, Physica A 355, 138 (2005)
M.A. Serrano, M. Boguna, A. Vespignani, J. Econ. Interac. Coord. 2, 111 (2007)
G. Fagiolo, J. Reyes, S. Schiavo, Phys. Rev. E 79, 036115 (2009)
J. He, M.W. Deem, Phys. Rev. Lett. 105, 198701 (2010)
G. Fagiolo, J. Reyes, S. Schiavo, J. Evol. Econ. 20, 479 (2010)
M. Barigozzi, G. Fagiolo, D. Garlaschelli, Phys. Rev. E 81, 046104 (2010)
T. Squartini, G. Fagiolo, D. Garlaschelli, Phys. Rev. E 84, 046118 (2011)
L. De Benedictis, L. Tajoli, World Econ. 34, 1417 (2011)
T. Deguchi, K. Takahashi, H. Takayasu, M. Takayasu, PLoS One 9, e1001338 (2014)
C.A. Hidalgo, B. Klinger, A.-L. Barabási, R. Hausmann, Science 317, 5837 (2007)
J.-P. Bouchaud, M. Potters, Theory of Financial Risk and Derivative Pricing (Cambridge University Press, Cambridge, 2003)
M.C. Munnix, R. Schaefer, T. Guhr, PLoS One 9, e98030 (2014)
Web page Google matrix of multiproduct world trade, http://www.quantware.ups-tlse.fr/QWLIB/wtnmatrix. Accessed December 2014
L. Ermann, K.M. Frahm, D.L. Shepelyansky, Eur. Phys. J. B 86, 193 (2013)
K. Soramäki, M.L. Bech, J. Arnold, R.J. Glass, W.E. Beyler, Physica A 379, 317 (2007)
B. Craig, G. von Peter, Interbank tiering and money center bank, Discussion paper No. 12, Deutsche Bundesbank (2010)
R.J. Garratt, L. Mahadeva, K. Svirydzenka, Mapping systemic risk in the international banking network, Working paper No. 413, Bank of England (2011)
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Ermann, L., Shepelyansky, D.L. Google matrix analysis of the multiproduct world trade network. Eur. Phys. J. B 88, 84 (2015). https://doi.org/10.1140/epjb/e2015-60047-0
Received:
Revised:
Published:
DOI: https://doi.org/10.1140/epjb/e2015-60047-0