Canary IslandsAutonomous Community in Spain
2019 Economic Complexity: -0.28, Rank 13 of 18
Jan 2021 Trade Exports | Imports: €143M | €160M, 16 of 19 | 14 of 19
Jan 2021 Country Destination | Origin: World | Netherlands , €81.5M | €19.4M
Jan 2021 Product Exports | Imports: Refined Petroleum | Refined Petroleum , €68.4M | €37.4M
Overview: This page contains the latest international trade data for Canary Islands, including export and import data.
Exports: In 2020, Spain's Canary Islands exported €1.78B, making it the 15th largest exporter out of the 18 exporters in Spain. In 2020 the top exports of Canary Islands were Light petroleum distillates nes (€695M), Commodities not specified according to kind (€232M), Coal tar distillation products nes (€76.7M), Perfumes and toilet waters (€52.7M), and Small Sized Cars (€34.2M).
Imports: In 2020, Spain's Canary Islands imported €2.38B, making it the 13th largest importer out of the 18 importers in Spain. In 2020 top imports of Canary Islands were Light petroleum distillates nes (€223M), Small Sized Cars (€104M), Coal tar distillation products nes (€103M), Micro Cars (€74.8M), and Cargo vessels other than tanker or... (€64.5M).
Economic Complexity: In 2019, the highest complexity exports of Canary Islands according to the product complexity index (PCI) are Iron Chains (1.42), Other Heating Machinery (1.27), Other Engines (0.91), Vehicle Chassis (0.85), and Excavation Machinery (0.8). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Canary Islands exported €143M and imported €160M, resulting in a negative trade balance of €16.5M. Between January 2020 and January 2021 the exports of Canary Islands have decreased by $-86.4M (-37.6%) from €229M to €143M, while imports decreased by €-194M (-54.9%) from €354M to €160M.
Trade: In January 2021, the top exports of Canary Islands were Refined Petroleum (€68.4M), Commodities not elsewhere specified (€17.4M), Perfumes (€4.6M), Aircraft Parts (€3.95M), and Tomatoes (€2.63M). In January 2021 the top imports of Canary Islands were Refined Petroleum (€37.4M), Cars (€8.29M), Wheat (€3.58M), Gas Turbines (€3.23M), and Medical Instruments (€2.76M).
Destinations: In January 2021, Canary Islands exported mostly to World (€81.5M), Senegal (€13.9M), France (€8.1M), Netherlands (€5.85M), and Germany (€2.64M), and imported mostly from Netherlands (€19.4M), Portugal (€19.1M), Germany (€14.9M), Sweden (€12M), and Italy (€11.7M).
Growth: In January 2021, the decrease in Canary Islands's year-by-year exports was explained primarily by an decrease in exports to World (€-82.9M or -50.4%), Netherlands (€-3.53M or -37.6%), and Portugal (€-2.89M or -58.9%), and product exports decrease in Commodities not elsewhere specified (€-25.5M or -59.4%), Refined Petroleum (€-23.2M or -25.3%), and Coal Tar Oil (€-17.1M or -93.6%). In January 2021, the decrease in Canary Islands's year-by-year imports was explained primarily by an decrease in imports from Belgium (€-27.6M or -89.6%), United Kingdom (€-24.9M or -84.7%), and Netherlands (€-18M or -48.1%), and product imports decrease in Refined Petroleum (€-68.9M or -64.8%), Cars (€-9.73M or -54%), and Gas Turbines (€-5.06M or -61%).
EXPORT GROWTH (January 2020 - January 2021): €-86.4M, (-37.6%)
IMPORT GROWTH (January 2020 - January 2021): €-194M, (-54.9%)
This section shows exports and imports data at subnational level for Canary Islands. 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 Canary Islands over time.
This section shows the differences between Canary Islands's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Spain's country profile.
Top Destination (2020): World, €1.1B
Top Product (2020): Light petroleum distillates nes, €695M
In 2020 the top export destinations of Canary Islands were World (€1.1B), Senegal (€61.8M), Netherlands (€61.1M), France (€58.2M), and United Kingdom (€48M).
In 2020 the top exports of Canary Islands were Light petroleum distillates nes (€695M), Commodities not specified according to kind (€232M), Coal tar distillation products nes (€76.7M), Perfumes and toilet waters (€52.7M), and Small Sized Cars (€34.2M).
Fastest Growing Exports Destination (Jan 2020 - Jan 2021)
Rapidly Declining Export Origins (Jan 2020 - Jan 2021)
Top Origin (2020): Germany, €362M
Top Import (2020): Light petroleum distillates nes, €223M
In 2020 the top import origins of Canary Islands were Germany (€362M), Netherlands (€243M), China (€164M), Portugal (€156M), and Italy (€150M).
In 2020 the top imports of Canary Islands were Light petroleum distillates nes (€223M), Small Sized Cars (€104M), Coal tar distillation products nes (€103M), Micro Cars (€74.8M), and Cargo vessels other than tanker or... (€64.5M).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Canary Islands ranks 13th out of the 18 autonomous communities in Spain according to ECI.
Estimated using exports data.
The economic complexity of a territory can change year to year. Canary Islands it is in position 13th considering its ECI in the last year.
The top export opportunities according to the relatedness level, without considering those products were Canary Islands already has a comparative advantage, are led by Crude Petroleum (0.11), Other Vegetables (0.11), Scrap Copper (0.11), Cement (0.11), and Wheat Flours (0.11).
The highest complexity exports of Canary Islands according to the product complexity index (PCI) are Iron Chains (1.42), Other Heating Machinery (1.27), Other Engines (0.91), Vehicle Chassis (0.85), and Excavation Machinery (0.8). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Coal Tar Oil (49.6), Vehicle Chassis (42.8), Netting (42.2), Cucumbers (37.1), and Stranded Iron Wire (26).
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 Canary Islands 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.
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.
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