A measure of a country’s comparative cost advantage (geographic comparative cost advantage) in the world market. This is the ratio of the share of a particular product type in a country’s exports, e.g. pharmaceuticals, to the exports of this product type in the world market: Pharmaceuticals – to the exports of this product type in the world as a whole. If the figure obtained in this way is greater than one over several years, as in the case of pharmaceuticals in Switzerland, then this indicates specialization in this commodity. – See foreign trade dependence, research ratio, globalization, unit value ratio, rigidities, structural, terms of trade. – Cf. ECB Monthly Bulletin, January 2008, pp. 85 f. (explanation; application to euro area; overviews).

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