Las Palmas | The Observatory of Economic Complexity

Las Palmas

Province in Canary Islands, Autonomous Community in Spain

2023
Economic
Complexity -0.081Rank 15 of 49

Jan 2024
Trade
Exports | Imports €167M | €191M34 of 53 | 28 of 53

Jan 2024
Country
Destination | Origin Rest of the world | Germany €121M | €34M

Image 1

Image by Bengt Nyman
Link: https://flic.kr/p/22rBdmX

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Las Palmas. In January 2024 Las Palmas was the number 36 in total exports and the number 27 in total imports in Spain.

Exports In 2023, Spain's Las Palmas exported €1.99B, making it the 36th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Las Palmas were Light petroleum distillates nes (€784M), Commodities not specified according to kind (€161M), Perfumes and toilet waters (€41.1M), Aircraft parts (excl. propellers/rotors, undercarriages) (€39.1M), and Aircraft engines, spark-ignition (€34.7M).

Imports In 2023, Spain's Las Palmas imported €2.49B, making it the 27th largest importer out of the 52 importers in Spain. In 2023 top imports of Las Palmas were Light petroleum distillates nes (€145M), Fixed wing aircraft, unladen weight >... (€140M), Micro Cars (€137M), Small Sized Cars (€123M), and Coal tar distillation products nes (€94.7M).

Economic Complexity In 2023, the highest complexity exports of Las Palmas according to the product complexity index (PCI) are Iron Chains (1.42), Spark-Ignition Engines (1.06), Excavation Machinery (0.82), Nonaqueous Paints (0.49), Used Rubber Tires (0.39), Perfumes (-0.073), Twine, cordage or rope; knotted netting,... (-0.69), Steam Turbines (N/A), Gaskets (1.38), and Surveying Equipment (0.31). 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 Las Palmas exported €167M and imported €191M, resulting in a negative trade balance of €24M. Between January 2023 and January 2024 the exports of Las Palmas have increased by $35.4M (26.8%) from €132M to €167M, while imports increased by €25.3M (15.3%) from €166M to €191M.

Trade In January 2024, the top exports of Las Palmas were Refined Petroleum (€86.4M), Commodities not elsewhere specified (€13.6M), Excavation Machinery (€10.3M), Coal Tar Oil (€7.5M), and Cars (€4.66M). In January 2024 the top imports of Las Palmas were Cars (€26.2M), Refined Petroleum (€21.6M), Delivery Trucks (€9.37M), Coal Tar Oil (€7.06M), and Molluscs (€4.87M).

Destinations In January 2024, Las Palmas exported mostly to Rest of the world (€121M), Portugal (€6.56M), United Kingdom (€6.54M), Senegal (€5.47M), and Mauritania (€5.47M), and imported mostly from Germany (€34M), Netherlands (€22.8M), Rest of the world (€12.9M), Italy (€10.8M), and Brazil (€9.3M).

Growth In January 2024, the increase in Las Palmas's year-by-year exports was explained primarily by an increase in exports to Germany (€1.83M or 154%), Brazil (€1.38M or 47.8k%), and Ghana (€1.04M or 56.9k%), and product exports increase in Commodities not elsewhere specified (€4.64M or 37.5%), Excavation Machinery (€3.65M or 351%), and Surveying Equipment (€2.12M or 3.23k%). In January 2024, the increase in Las Palmas's year-by-year imports was explained primarily by an increase in imports from Netherlands (€11.1M or 66.4%), Germany (€5.74M or 30.3%), and Brazil (€2.66M or 40.8%), and product imports increase in Cheese (€2.63M or 113%), Cars (€2.15M or 11.9%), and Rubber Footwear (€1.62M or 156%).

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)€35.4M(26.8%)

IMPORT GROWTH (January 2023 - January 2024)€25.3M(15.3%)

This section shows exports and imports data at subnational level for Las Palmas. 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 Las Palmas over time.

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)Rest of the world€1.03B

Top Product (2023)Light petroleum distillates nes€784M

In 2023 the top export destinations of Las Palmas were Rest of the world (€1.03B), Senegal (€88.7M), France (€86.6M), Mauritania (€81.1M), and Portugal (€58.1M).

In 2023 the top exports of Las Palmas were Light petroleum distillates nes (€784M), Commodities not specified according to kind (€161M), Perfumes and toilet waters (€41.1M), Aircraft parts (excl. propellers/rotors, undercarriages) (€39.1M), and Aircraft engines, spark-ignition (€34.7M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

United Kingdom €5.72M (694%)

Senegal €4.83M (747%)

Portugal €3.87M (144%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

United States -€4.68M (-74.8%)

Germany -€2.19M (-72.6%)

Netherlands -€2.02M (-58.1%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Germany€438M

Top Import (2023)Light petroleum distillates nes€145M

In 2023 the top import origins of Las Palmas were Germany (€438M), Brazil (€240M), Netherlands (€227M), France (€217M), and China (€169M).

In 2023 the top imports of Las Palmas were Light petroleum distillates nes (€145M), Fixed wing aircraft, unladen weight >... (€140M), Micro Cars (€137M), Small Sized Cars (€123M), and Coal tar distillation products nes (€94.7M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Germany €9.3M (37.7%)

Sweden €7.64M (2.35k%)

Morocco €2.41M (86.6%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Netherlands -€4.95M (-17.9%)

China -€1.82M (-16.5%)

Portugal -€1.32M (-20.1%)

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Economic Complexity

Economic Complexity of Las Palmas

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Geomap

Treemap

Economic Complexity (2023)-0.081

Las Palmas ranks 15th out of the 52 provinces 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. Las Palmas it is in position 15th 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 Las Palmas already has a comparative advantage, are led by Fish Fillets (0.12), Prepared Cereals (0.12), Other Processed Vegetables (0.12), Other Vegetables (0.12), and Scrap Aluminium (0.12).

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Most Complex Products by PCI

The highest complexity exports of Las Palmas according to the product complexity index (PCI) are Iron Chains (1.42), Spark-Ignition Engines (1.06), Excavation Machinery (0.82), Nonaqueous Paints (0.49), Used Rubber Tires (0.39), Perfumes (-0.073), Twine, cordage or rope; knotted netting,... (-0.69), Steam Turbines (N/A), Gaskets (1.38), and Surveying Equipment (0.31). 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 Twine, cordage or rope; knotted netting,... (58.97), Perfumes (26.70), Steam Turbines (26.21), Rolled Tobacco (17.57), and Glass Bottles (17.43).

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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 Las Palmas 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 Las Palmas. These are products that tend to be co-exported with the products that Las Palmas 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.