Aragon | The Observatory of Economic Complexity

Aragon

Autonomous Community in Spain

2023
Economic
Complexity -0.14Rank 10 of 18

Jan 2024
Trade
Exports | Imports €1.41B | €1.44B7 of 19 | 7 of 19

Jan 2024
Country
Destination | Origin France | France €314M | €338M

Image 1

Image by Luis Villa del Campo
Link: https://flic.kr/p/DP5QU

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Aragon. In January 2024 Aragon was the number 7 in total exports and the number 7 in total imports in Spain.

Exports In 2023, Spain's Aragon exported €16.4B, making it the 7th largest exporter out of the 18 exporters in Spain. In 2023 the top exports of Aragon were Small Sized Cars (€3.58B), Electric motor Vehicles (€1.11B), Other Fresh/Chilled Pork Cuts (€909M), Other Frozen Pork Cuts (€652M), and Electric cooking, grilling & roasting equipment... (€405M).

Imports In 2023, Spain's Aragon imported €14.7B, making it the 7th largest importer out of the 18 importers in Spain. In 2023 top imports of Aragon were Other Motor vehicle parts (€1.12B), Engines, spark-ignition reciprocating, over 1000 cc (€702M), Others parts and accessories of bodies... (€546M), Transmissions for motor vehicles (€476M), and Ignition/other wiring sets for vehicles/aircraft/ship (€444M).

Economic Complexity In 2023, the highest complexity exports of Aragon according to the product complexity index (PCI) are Polyamides (1.6), Gaskets (1.38), Other Office Machines (0.97), Cars (0.96), Trailers and semi-trailers, not mechanically propelled... (0.83), Excavation Machinery (0.82), Locomotive Parts (0.82), Pig Meat (0.66), Animal Fat (0.44), and Pitted Fruits (-1.03). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

January, 2024

About

Overview In January 2024 Aragon exported €1.41B and imported €1.44B, resulting in a negative trade balance of €30.1M. Between January 2023 and January 2024 the exports of Aragon have increased by $73.7M (5.5%) from €1.34B to €1.41B, while imports decreased by €-56.6M (-3.77%) from €1.5B to €1.44B.

Trade In January 2024, the top exports of Aragon were Cars (€461M), Pig Meat (€172M), Motor vehicles; parts and accessories (8701... (€50.1M), Electric Heaters (€33.1M), and Insulated Wire (€20.8M). In January 2024 the top imports of Aragon were Motor vehicles; parts and accessories (8701... (€244M), Spark-Ignition Engines (€67.4M), Insulated Wire (€38.8M), Other Iron Products (€36.2M), and Non-Knit Women's Suits (€31.9M).

Destinations In January 2024, Aragon exported mostly to France (€314M), Germany (€245M), Italy (€147M), Portugal (€95.3M), and United Kingdom (€88.2M), and imported mostly from France (€338M), Germany (€209M), China (€148M), Portugal (€114M), and Morocco (€89.8M).

Growth In January 2024, the increase in Aragon's year-by-year exports was explained primarily by an increase in exports to Italy (€45.1M or 39.6%), Turkey (€29.7M or 116%), and Germany (€28.8M or 18%), and product exports increase in Cars (€102M or 39.4%), Pig Meat (€23.3M or 24.8%), and Electric Heaters (€14.2M or 45.1%). In January 2024, the decrease in Aragon's year-by-year imports was explained primarily by an decrease in imports from Morocco (€-8.93M or -9.36%), Turkey (€-8.1M or -12.3%), and Austria (€-6.56M or -46%), and product imports decrease in Non-Knit Women's Suits (€-12.5M or -20.1%), Knit Sweaters (€-11.5M or -26.9%), and Non-Knit Women's Coats (€-9.59M or -40%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (January 2023 - January 2024)€73.7M(5.5%)

IMPORT GROWTH (January 2023 - January 2024)€-56.6M(-3.77%)

This section shows exports and imports data at subnational level for Aragon. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Aragon over time.

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)France€3.57B

Top Product (2023)Small Sized Cars€3.58B

In 2023 the top export destinations of Aragon were France (€3.57B), Germany (€2.84B), Italy (€1.89B), United Kingdom (€1.19B), and Portugal (€1.17B).

In 2023 the top exports of Aragon were Small Sized Cars (€3.58B), Electric motor Vehicles (€1.11B), Other Fresh/Chilled Pork Cuts (€909M), Other Frozen Pork Cuts (€652M), and Electric cooking, grilling & roasting equipment... (€405M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Germany €56.1M (29.8%)

France €52.9M (20.3%)

Czechia €11.9M (102%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Belgium -€34.6M (-65.8%)

Turkey -€17.8M (-32.2%)

Italy -€12.3M (-7.71%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)France€4.22B

Top Import (2023)Other Motor vehicle parts€1.12B

In 2023 the top import origins of Aragon were France (€4.22B), China (€2.33B), Germany (€2.3B), Portugal (€1.35B), and Morocco (€1.17B).

In 2023 the top imports of Aragon were Other Motor vehicle parts (€1.12B), Engines, spark-ignition reciprocating, over 1000 cc (€702M), Others parts and accessories of bodies... (€546M), Transmissions for motor vehicles (€476M), and Ignition/other wiring sets for vehicles/aircraft/ship (€444M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Germany €33.1M (18.8%)

Portugal €26.2M (30.1%)

Ireland €26.2M (461%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

China -€112M (-43%)

Belgium -€26.6M (-58.4%)

Czechia -€19.5M (-53.9%)

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Economic Complexity

Economic Complexity of Aragon

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Geomap

Treemap

Economic Complexity (2023)-0.14

Aragon ranks 10th out of the 18 autonomous communities in Spain according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Economic Complexity Ranking

Value

Ranking

Value

The economic complexity of a territory can change year to year. Aragon it is in position 10th considering its ECI in the last year.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Aragon already has a comparative advantage, are led by Knit Women's Shirts (0.26), Non-Knit Men's Undergarments (0.26), Non-Knit Men's Suits (0.26), Knit Men's Shirts (0.26), and Knit Men's Suits (0.26).

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Most Complex Products by PCI

The highest complexity exports of Aragon according to the product complexity index (PCI) are Polyamides (1.6), Gaskets (1.38), Other Office Machines (0.97), Cars (0.96), Trailers and semi-trailers, not mechanically propelled... (0.83), Excavation Machinery (0.82), Locomotive Parts (0.82), Pig Meat (0.66), Animal Fat (0.44), and Pitted Fruits (-1.03). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Pig Meat (59.19), Animal Fat (49.30), Pitted Fruits (31.69), Silicates (26.24), and Edible Offal (25.07).

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Product Space

RCA Filter

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 Aragon 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.

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Relatedness Space

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

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Diversification Frontier

Depth

Section

HS2

HS4

Filter

All

RCA≤1

RCA>1

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. Bubble size corresponds to exports value by year 2020.