Fuzzy set theory and fuzzy logics are the powerful mathematical tools to model the imprecision and vagueness. In this research, the novel concept of complex Pythagorean fuzzy relation (CPFR) is introduced. Furthermore, the types of CPFRs are explained with appropriate examples such as CPF composite relation, CPF equivalence relation, CPF order relation, and CPF equivalence classes. Moreover, numerous results and interesting properties of CPFRs are discussed in detail. Furthermore, the impacts of economic parameters over each other are studied through the proposed concepts of CPFRs. In addition, the application also discusses the effects of economic parameters of one country over the other countries' economic parameters.