Albacete

Province in Castilla-La Mancha, Autonomous Community in Spain

2019
Economic
Complexity
: -0.2, Rank 25 of 49

Jan 2021
Trade
Exports | Imports
: €81.6M | €55.4M, 40 of 53 | 40 of 53

Jan 2021
Country
Destination | Origin
: France | Germany , €18.1M  | €12.8M

Jan 2021
Product
Exports | Imports
: Wine | Office Machine Parts , €10.6M  | €8.48M

Overview: This page contains the latest international trade data for Albacete, including export and import data.

Exports: In 2020, Spain's Albacete exported €1.03B, making it the 39th largest exporter out of the 52 exporters in Spain. In 2020 the top exports of Albacete were Grape wines, alcoholic grape must nes (€84.2M), Bars, rods and profiles, aluminium, not... (€75.2M), Almonds,fresh or dried, shelled (€51.2M), Aircraft parts nes (€48.2M), and Garlic, fresh or chilled (€40.9M).

Imports: In 2020, Spain's Albacete imported €828M, making it the 36th largest importer out of the 52 importers in Spain. In 2020 top imports of Albacete were Parts and accessories of office machines,... (€122M), Aircraft parts nes (€63.9M), Parts of turbo-jet or turbo-propeller engines (€36.8M), Cheese except fresh, grated, processed or... (€34.9M), and Potatoes, fresh or chilled except seed (€20.4M).

Economic Complexity: In 2019, the highest complexity exports of Albacete according to the product complexity index (PCI) are Iron Fasteners (1.81), Blank Audio Media (1.74), Forging Machines (1.7), Metalworking Machine Parts (1.43), and Gaskets (1.33). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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Flow
Value

This section shows the differences between Albacete's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Spain's country profile.

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Yearly Exports

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Value
Depth

Top Destination (2020): France, €235M

Top Product (2020): Grape wines, alcoholic grape must nes, €84.2M

In 2020 the top export destinations of Albacete were France (€235M), Italy (€145M), Germany (€117M), Portugal (€71M), and United Kingdom (€53.6M).

In 2020 the top exports of Albacete were Grape wines, alcoholic grape must nes (€84.2M), Bars, rods and profiles, aluminium, not... (€75.2M), Almonds,fresh or dried, shelled (€51.2M), Aircraft parts nes (€48.2M), and Garlic, fresh or chilled (€40.9M).

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Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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Value
Depth

Top Origin (2020): France, €198M

Top Import (2020): Parts and accessories of office machines,..., €122M

In 2020 the top import origins of Albacete were France (€198M), Germany (€180M), China (€76.6M), Portugal (€67.3M), and Italy (€56.6M).

In 2020 the top imports of Albacete were Parts and accessories of office machines,... (€122M), Aircraft parts nes (€63.9M), Parts of turbo-jet or turbo-propeller engines (€36.8M), Cheese except fresh, grated, processed or... (€34.9M), and Potatoes, fresh or chilled except seed (€20.4M).

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Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of Spain

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Albacete ranks 25th out of the 52 provinces in Spain according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Albacete it is in position 25th considering its ECI in the last year.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Albacete already has a comparative advantage, are led by Other Processed Vegetables (0.15), Pickled Foods (0.15), Legumes (0.15), Cement (0.15), and Jams (0.15).

Most Complex Products by PCI

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The highest complexity exports of Albacete according to the product complexity index (PCI) are Iron Fasteners (1.81), Blank Audio Media (1.74), Forging Machines (1.7), Metalworking Machine Parts (1.43), and Gaskets (1.33). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Leather of Other Animals (200), Animal or Vegetable Fertilizers (134), Knives (99.6), Aluminium Bars (89.8), and Legume Flours (87.2).

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Albacete is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of  Albacete. These are products that tend to be co-exported with the products that Albacete exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.