Cluster profiles for selected countries

Data are used for the examination of cluster development in each country, i.e. the cluster composition of a national economy, which itself is a dynamic and multifaceted concept not only reflecting existing economic strengths and priorities, but also highlighting potential areas for future growth and development. Clusters promote a competitive environment that encourages the development of specialised skills and knowledge, thereby improving the capabilities of the cluster and the country in specific sectors. Internationally, highly established clusters may significantly improve a country’s ability to export and establish global trade connections, which is why the measure of the cluster composition of the economy in this analysis is related to the country’s export share of total world exports, which is line with the approach used in the International Cluster Competitiveness Project of the Institute for Strategy and Competitiveness, Harvard Business School. As the cluster composition of the economy is subject to change over time, influenced by technological advancements, shifts in global market demands, and evolving socio-economic factors, it is analysed in the long-term perspective, starting from 2005. Cluster analysis helps identify emerging industries and technologies that could be pivotal for future economic success.