Canary Islands

Autonomous 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.

Comparison in Time

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Flow
Value

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.

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Yearly Exports

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Value
Depth

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).

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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): 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).

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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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Canary Islands ranks 13th out of the 18 autonomous communities 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. Canary Islands it is in position 13th 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 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).

Most Complex Products by PCI

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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.

Most Specialized Products by RCA Index

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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.

Relatedness Space

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This network shows the products most related to the production structure of  Canary Islands. These are products that tend to be co-exported with the products that Canary Islands 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.