Group02 Proposal
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Contents
Overview
Empires rise and fall because of it; its ways are looked upon as the lifelines for nations who fought and died for it. Yet, it is something that you engage in as part of your daily life. 'It' refers to trade, which is the exchange of goods and services, often with compensation paid by the buyer to the seller.
From the simplest forms of bartering that had been interwoven into the earliest fabric of human history, to the modern-day commodity derivatives traded on virtual exchanges, trade has always been an essential economic activity to mankind. With the progression of time, the vital role of trade has not changed. Rapid industrialisation necessitated the embracing of division of labour, and entrance into the 21st century heralded various technological advancements that removed geographic boundaries that created a global market. Comparative advantages and trade dependencies have thus developed over the years, entrenching trade as a foundation for national economies and our global society at large. Voluminous commodities now flow in and out of countries, and data about such movements have proliferated over the years with the application of technology into commodity trading processes and workflows.
The importance of trade is unquestionable, and our group hopes to apply visual analytics methods to facilitate and share the understanding of trade in the form of an interactive dashboard, to empower users to explore commodity trades in all its complex interdependencies, and changes through time.
Motivations and Objectives
Based on the Global Commodity Trade Statistics published by the United Nations Statistics Division, we have identified investable and tradable commodities which fall into Metals (such as gold, silver, platinum and copper), Energy (such as crude oil, heating oil, natural gas and gasoline), Livestock and Meat (including lean hogs, pork bellies, live cattle and feeder cattle) and Agricultural (including corn, soybeans, wheat, rice, cocoa, coffee, cotton and sugar). [1]
Our project aims to identify the trends and patterns in the international trade at the geographic, regional and economic levels and wish to explore the trade dependencies of these countries with others. We also aim to explore the major importers and exporters of trade commodities and to find out the relationship between the volume of trade to its quantity. Our team is motivated to design a dynamic and interactive dashboard to provide policymakers a better understanding and holistic view of the International Trade.
Through out analysis, we hope to address the following:
1) To explore International Trade (Imports and Exports) in terms of Quantity/Volume by Commodity Type/Volume/Region
2) To explore International Trade (Imports and Exports) in terms of Trade Amount($) by Commodity Type
Plots
The following plots are proposed to provide visual insights into their respective topics:
1. EDA: Choropleth map plot
2. Relationships: Sankey plot
3. Chronology & Geography: Sun-burst plot
Data Sources
The Global Commodity Trade Statistics data is retrieved from United Nations Statistics Division of the UNData website. The retrieved 8.23 million rows of data between 1988 to 2016 comprises the following information:
- Country Name of Record
- Year in which the trade has taken place
- Harmonized Commodity Description and Coding System (HS) by World Customs Organization comprising about 5000 commodity groups; each identified by a six digit code
- Description of a particular commodity code
- Flow of Trade (Import, Export)
- Value of Trade in USD
- Weight of the Commodity in Kilograms
- Description of the quantity measurement type given the type of item
- Quantity count of a given item based on the Quantity Name
- Category to identify commodity
URL: Link: http://data.un.org/Explorer.aspx
Tools & Packages
- shiny
- shinydashboard
- tidyverse
- dplyr
- countrycode
- rworldmap
- sunburstR
- treemap
- geofacet
- networkD3
- ggpplot2
References
Banner: https://www.drugdetectingdogs.com/detecting-dogs/miami/sweeper-florida/shipping/sniffing
[1] Commodities Trading: Overview. https://www.investopedia.com/investing/commodities-trading-overview/
