Expanding Horizons: Updated IMPLAN International Product
We’re thrilled to announce a significant enhancement to our International Product – an expansion that opens up a world of possibilities for economic analysis. With the addition of 10 new countries to our database, we’re now covering a total of 76 countries, empowering users with broader insights and deeper understanding across diverse economies.
Data from the following countries is newly available:
- Bangladesh
- Belarus
- Cameroon
- Côte d’Ivoire
- Egypt
- Jordan
- Nigeria
- Pakistan
- Senegal
- Ukraine
You can find a list of all 76 countries included here. Read on to discover what else has changed in the new update.
New Inter-Country Trade Data and MRIO Capability
One of the most exciting updates is the integration of country-to-country trade data, enabling MRIO analysis. Unlike previous versions where trade data only provided total foreign imports and exports by commodity, we now offer detailed trading partner information sourced from the OECD Inter-Country Input-Output Tables. This enhancement enriches the analytical depth, allowing users to unravel intricate global economic interdependencies and make more informed decisions.
New Data Source for Employment
Understanding employment dynamics is crucial for comprehensive economic analysis. That’s why we’ve upgraded our employment data source for most countries to the OECD Trade in Employment (TiM) database. This database aligns seamlessly with the OECD Input-Output (I-O) and employee compensation data, ensuring more consistent employment estimates. Even in cases where TiM data is unavailable, rest assured that we rely on trusted sources like the International Labour Organization’s Modeled and Projected Estimates (ILO-EST) employment dataset to maintain the highest standards of reliability.
Improved Tax Data for Enhanced Precision
In our pursuit of precision, we’ve revamped our approach to personal income taxes, corporate taxes, and social security contributions. Say goodbye to estimates based on rates – for most countries, we now utilize actual dollar values (in USD) from the OECD Global Revenue Statistics database. This switch not only enhances accuracy but also reflects the nuanced complexities of tax structures, ensuring a more faithful representation of economic realities. In instances where data is unavailable from the OECD Global Revenue database, rest assured that we draw upon alternative reputable sources like the World Bank World Development Indicators (WDI) database or national statistics agencies.
At IMPLAN, we’re committed to empowering our users with the most comprehensive and reliable economic data and analytical tools. With these latest enhancements to the IMPLAN International Product, we’re excited to see how you leverage these capabilities to unlock new insights, make better-informed decisions, and navigate the complexities of an increasingly interconnected global economy.
Want to learn more? Check out the Release Notes or schedule a demo below.