[openrisk]

Indeed the definition is somewhat of an extrapolation. Product complexity defined in this way probably misses on intricate supply chain dependencies too. E.g., EUV lithography is essential for modern chips, but it is produced by ASML in NL - which is otherwise in steady economic complexity decline for decades (from rank 15 in 1995 to rank 26 in 2021). Small country specialization might not be normalized adequately.

Eyeballing the rankings the methodology is probably biased towards manufacturing materials supply chain complexity rather than "knowledge economy" complexity.

Nevertheless its probably directionally correct at more aggregate levels.