NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

Province in Community of Madrid, Autonomous Community in Spain

2023
Economic
Complexity 0.11Rank 5 of 49
Nov 2024
Trade
Exports | Imports €3.88B | €8.32B2 of 53 | 1 of 53
Nov 2024
Country
Destination | Origin France | Germany €521M  | €1.11B

About

Overview This page contains the latest international trade data for Madrid. In November 2024 Madrid was the number 2 in total exports and the number 1 in total imports in Spain.

Exports In 2023, Spain's Madrid exported €59.1B, making it the 2nd largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Madrid were Human vaccines and similar products (€4.43B), Medicaments in Dosage (n.e.s.) (€4.41B), Electrical energy (€2.93B), Light petroleum distillates nes (€2.35B), and Diesel road tractors for semi-trailers (€2.07B).

Imports In 2023, Spain's Madrid imported €111B, making it the 1st largest importer out of the 52 importers in Spain. In 2023 top imports of Madrid were Medicaments in Dosage (n.e.s.) (€8.48B), Liquefied Natural Gas (€7.45B), Smartphones (€2.61B), Immunological Products Packings for Retail Sale (€2.21B), and Electrical energy (€1.8B).

Economic Complexity In 2023, the highest complexity exports of Madrid according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.81), Other Stainless Steel Bars (1.6), Motor-working Tools (1.37), Self-Propelled Rail Transport (1.36), Vaccines, blood, antisera, toxins and cultures (1.34), Lifting Machinery (1.1), Nitrogen Heterocyclic Compounds (1.1), Boiler Plants (1.05), Micro-Organism Culture Preparations (1.02), and Gas Turbines (1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

November, 2024

About

Overview In November 2024 Madrid exported €3.88B and imported €8.32B, resulting in a negative trade balance of €4.44B. Between November 2023 and November 2024 the exports of Madrid have decreased by $-519M (-11.8%) from €4.4B to €3.88B, while imports decreased by €-224M (-2.62%) from €8.54B to €8.32B.

Trade In November 2024, the top exports of Madrid were Packaged Medicaments (€496M), Gold (€282M), Electricity (€230M), Vaccines, blood, antisera, toxins and cultures (€192M), and Gas Turbines (€180M). In November 2024 the top imports of Madrid were Packaged Medicaments (€916M), Cars (€511M), Telephones (€489M), Petroleum Gas (€452M), and Vaccines, blood, antisera, toxins and cultures (€354M).

Destinations In November 2024, Madrid exported mostly to France (€521M), United Kingdom (€497M), Portugal (€449M), Italy (€308M), and Germany (€294M), and imported mostly from Germany (€1.11B), United States (€1.02B), China (€995M), France (€764M), and Italy (€580M).

Growth In November 2024, the decrease in Madrid's year-by-year exports was explained primarily by an decrease in exports to Rest of the world (€-188M or -64.6%), France (€-136M or -20.6%), and Italy (€-131M or -29.9%), and product exports decrease in Petroleum Gas (€-99M or -95.6%), Refined Petroleum (€-84.8M or -40.8%), and Tractors (€-81.1M or -43%). In November 2024, the decrease in Madrid's year-by-year imports was explained primarily by an decrease in imports from Nigeria (€-93.4M or -70.4%), Switzerland (€-81.7M or -41.2%), and Germany (€-61.3M or -5.22%), and product imports decrease in Petroleum Gas (€-379M or -45.6%), Crude Petroleum (€-126M or -93.4%), and Semiconductor Devices (€-48.3M or -55.1%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (November 2023 - November 2024)€-519M(-11.8%)
IMPORT GROWTH (November 2023 - November 2024)€-224M(-2.62%)

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

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)France€6.83B
Top Product (2023)Human vaccines and similar products€4.43B

In 2023 the top export destinations of Madrid were France (€6.83B), Portugal (€5.38B), Belgium (€5.07B), Italy (€4.57B), and United Kingdom (€4.44B).

In 2023 the top exports of Madrid were Human vaccines and similar products (€4.43B), Medicaments in Dosage (n.e.s.) (€4.41B), Electrical energy (€2.93B), Light petroleum distillates nes (€2.35B), and Diesel road tractors for semi-trailers (€2.07B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Exports Dynamics

Fastest Growing Exports Destination (Nov 2023 - Nov 2024)
United Kingdom €109M (28.1%)
China €84.3M (96.7%)
Portugal €34.4M (8.28%)
Rapidly Declining Export Origins (Nov 2023 - Nov 2024)
France -€136M (-20.6%)
Italy -€131M (-29.9%)
Germany -€126M (-30%)

Subscribe today to OEC pro and access the latest data

Sign Up

Yearly Imports

Color
Depth
Top Origin (2023)Germany€12.1B
Top Import (2023)Medicaments in Dosage (n.e.s.)€8.48B

In 2023 the top import origins of Madrid were Germany (€12.1B), United States (€11.9B), China (€10.4B), France (€9.11B), and Italy (€6.76B).

In 2023 the top imports of Madrid were Medicaments in Dosage (n.e.s.) (€8.48B), Liquefied Natural Gas (€7.45B), Smartphones (€2.61B), Immunological Products Packings for Retail Sale (€2.21B), and Electrical energy (€1.8B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Imports Dynamics

Fastest Growing Import Origins (Nov 2023 - Nov 2024)
France €124M (19.3%)
Belgium €78.7M (40.1%)
South Africa €32.4M (428%)
Rapidly Declining Import Origins (Nov 2023 - Nov 2024)
Nigeria -€93.4M (-70.4%)
Switzerland -€81.7M (-41.2%)
Germany -€61.3M (-5.22%)

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Economic Complexity of Madrid

View
Economic Complexity (2023)0.11

Madrid ranks 5th 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.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity Ranking

Value

The economic complexity of a territory can change year to year. Madrid it is in position 5th considering its ECI in the last year.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Sign Up

Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Madrid already has a comparative advantage, are led by Natural Cork Articles (0.21), Agglomerated Cork (0.21), Mannequins (0.21), Vegetable or Animal Dyes (0.21), and Scented Mixtures (0.21).

Subscribe today to OEC pro and access the latest data

Sign Up

Most Complex Products by PCI

The highest complexity exports of Madrid according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.81), Other Stainless Steel Bars (1.6), Motor-working Tools (1.37), Self-Propelled Rail Transport (1.36), Vaccines, blood, antisera, toxins and cultures (1.34), Lifting Machinery (1.1), Nitrogen Heterocyclic Compounds (1.1), Boiler Plants (1.05), Micro-Organism Culture Preparations (1.02), and Gas Turbines (1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Subscribe today to OEC pro and access the latest data

Sign Up

Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Electric Locomotives (15.56), Aircraft Launch Gear (15.05), Electricity (13.51), Hot-Rolled Stainless Steel Bars (12.87), and Wood Barrels (12.68).

Subscribe today to OEC pro and access the latest data

Sign Up

Product Space

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 Madrid 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.

Subscribe today to OEC pro and access the latest data

Sign Up

Relatedness Space

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

Subscribe today to OEC pro and access the latest data

Sign Up

Diversification Frontier

Depth
Filter

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms