MadridProvince in Community of Madrid, Autonomous Community in Spain
2020 Economic Complexity : -0.075, Rank 13 of 49
Dec 2022 Trade Exports | Imports: €4.99B | €8.42B, 2 of 53 | 1 of 53
Dec 2022 Country Destination | Origin: Belgium | United States , €1.3B | €965M
Dec 2022 Product Exports | Imports: Vaccines for human medicine | Natural gas, liquefied , €1.28B | €1.18B
Overview This page contains the latest international trade data for Madrid. In December 2022 Madrid was the number 2 in total exports and the number 1 in total imports in Spain.
Exports In 2022, Spain's Madrid exported €55B, making it the 2nd largest exporter out of the 52 exporters in Spain. In 2022 the top exports of Madrid were Vaccines for human medicine (€9.66B), Electrical energy (€6.58B), Medicaments nes, in dosage (€3.21B), Commodities not specified according to kind (€1.87B), and Light petroleum distillates nes (€1.42B).
Imports In 2022, Spain's Madrid imported €107B, making it the 1st largest importer out of the 52 importers in Spain. In 2022 top imports of Madrid were Natural gas, liquefied (€17.6B), Medicaments nes, in dosage (€8.33B), Electrical energy (€3.39B), Smartphones (€2.04B), and Immunological products packings for retail sale (€1.97B).
Economic Complexity In 2020, the highest complexity exports of Madrid according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.76), Other Stainless Steel Bars (1.47), Vaccines, blood, antisera, toxins and cultures (1.04), Railway Passenger Cars (0.3), and Wood Barrels (0.099). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
Overview In December 2022 Madrid exported €4.99B and imported €8.42B, resulting in a negative trade balance of €3.43B. Between December 2021 and December 2022 the exports of Madrid have increased by $881M (21.5%) from €4.11B to €4.99B, while imports decreased by €-127M (-1.49%) from €8.55B to €8.42B.
Trade In December 2022, the top exports of Madrid were Vaccines, blood, antisera, toxins and cultures (€1.32B), Packaged Medicaments (€316M), Electricity (€274M), Planes, Helicopters, and/or Spacecraft (€239M), and Gold (€204M). In December 2022 the top imports of Madrid were Petroleum Gas (€1.3B), Packaged Medicaments (€618M), Cars (€434M), Telephones (€332M), and Vaccines, blood, antisera, toxins and cultures (€289M).
Destinations In December 2022, Madrid exported mostly to Belgium (€1.3B), France (€622M), Portugal (€364M), United Kingdom (€348M), and Italy (€342M), and imported mostly from United States (€965M), Germany (€924M), China (€838M), France (€789M), and Italy (€598M).
Growth In December 2022, the increase in Madrid's year-by-year exports was explained primarily by an increase in exports to Portugal (€221M or 77.4%), United Kingdom (€193M or 138%), and France (€156M or 43.9%), and product exports increase in Electricity (€381M or 332%), Petroleum Gas (€80.1M or 2.01k%), and Refined Petroleum (€67M or 356%). In December 2022, the decrease in Madrid's year-by-year imports was explained primarily by an decrease in imports from Vietnam (€-63.1M or -56.2%), Netherlands (€-33.7M or -8.9%), and Kazakhstan (€-31.1M or -96.7%), and product imports decrease in Telephones (€-195M or -65.8%), Vaccines, blood, antisera, toxins and cultures (€-58.1M or -23.2%), and Planes, Helicopters, and/or Spacecraft (€-42.7M or -99.8%).
EXPORT GROWTH (December 2021 - December 2022): €881M, (21.5%)
IMPORT GROWTH (December 2021 - December 2022): €-127M, (-1.49%)
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.
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Top Destination (2022): Belgium, €10.2B
Top Product (2022): Vaccines for human medicine, €9.66B
In 2022 the top export destinations of Madrid were Belgium (€10.2B), France (€7.94B), Portugal (€6.56B), United Kingdom (€4.1B), and Germany (€3.2B).
In 2022 the top exports of Madrid were Vaccines for human medicine (€9.66B), Electrical energy (€6.58B), Medicaments nes, in dosage (€3.21B), Commodities not specified according to kind (€1.87B), and Light petroleum distillates nes (€1.42B).
Top Origin (2022): United States, €15.7B
Top Import (2022): Natural gas, liquefied, €17.6B
In 2022 the top import origins of Madrid were United States (€15.7B), China (€11.5B), Germany (€11B), France (€9.86B), and Italy (€6.26B).
In 2022 the top imports of Madrid were Natural gas, liquefied (€17.6B), Medicaments nes, in dosage (€8.33B), Electrical energy (€3.39B), Smartphones (€2.04B), and Immunological products packings for retail sale (€1.97B).
Economic Complexity (2022): -0.075
Madrid ranks 13th 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.
The economic complexity of a territory can change year to year. Madrid 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 Madrid already has a comparative advantage, are led by Natural Cork Articles (0.18), Knit Men's Shirts (0.18), Knit Women's Shirts (0.18), Paintings (0.18), and Garments of Impregnated Fabric (0.18).
The highest complexity exports of Madrid according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.76), Other Stainless Steel Bars (1.47), Vaccines, blood, antisera, toxins and cultures (1.04), Railway Passenger Cars (0.3), and Wood Barrels (0.099). 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 Electricity (62.1), Hot-Rolled Stainless Steel Bars (37.0), Vaccines, blood, antisera, toxins and cultures (17.5), Railway Passenger Cars (12.0), and Non-Knit Babies' Garments (10.9).
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.
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.
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