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.

Historical Data

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Yearly Exports

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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).

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Exports Dynamics

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Fastest Growing Exports Destination (Dec 2021 - Dec 2022)

Rapidly Declining Export Origins (Dec 2021 - Dec 2022)

Yearly Imports

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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).

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Imports Dynamics

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Fastest Growing Import Origins (Dec 2021 - Dec 2022)

Rapidly Declining Import Origins (Dec 2021 - Dec 2022)

Economic Complexity

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Economic Complexity of Madrid

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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.

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Economic Complexity Ranking

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The economic complexity of a territory can change year to year. Madrid 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 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).

Most Complex Products by PCI

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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.

Most Specialized Products by RCA Index

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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.

Relatedness Space

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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.

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. Bubble size corresponds to exports value by year 2020.