Murcia | The Observatory of Economic Complexity

Murcia

Province in Region of Murcia, Autonomous Community in Spain

2023
Economic
Complexity -0.48Rank 45 of 49

Nov 2024
Trade
Exports | Imports €1.01B | €1.38B7 of 53 | 5 of 53

Nov 2024
Country
Destination | Origin France | Mexico €148M | €196M

Image 1

Image by Mike McBey
Link: https://flic.kr/p/KbnpAt

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Murcia. In November 2024 Murcia was the number 6 in total exports and the number 7 in total imports in Spain.

Exports In 2023, Spain's Murcia exported €14.4B, making it the 6th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Murcia were Light petroleum distillates nes (€1.65B), Crude Petroleum Oils (€782M), Commodities not specified according to kind (€733M), Petroleum spirit for motor vehicles (€451M), and Cauliflowers & Broccoli (Fresh/Chilled) (€436M).

Imports In 2023, Spain's Murcia imported €18.8B, making it the 7th largest importer out of the 52 importers in Spain. In 2023 top imports of Murcia were Crude Petroleum Oils (€8.06B), Soya Beans (Excl. Seed, Broken or... (€491M), Maize except seed corn (€364M), Light petroleum distillates nes (€344M), and Refined sugar, in solid form, nes,... (€238M).

Economic Complexity In 2023, the highest complexity exports of Murcia according to the product complexity index (PCI) are Cyclic Alcohols (0.82), Polyacetals (0.7), Pig Meat (0.7), Animal Fat (0.34), Scented Mixtures (0.25), Other Large Iron Pipes (0.22), Polishes and Creams (0.22), Vegetable or Animal Dyes (0.21), Glycosides (0.18), and Sausages (0.17). 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 Murcia exported €1.01B and imported €1.38B, resulting in a negative trade balance of €374M. Between November 2023 and November 2024 the exports of Murcia have decreased by $-73M (-6.77%) from €1.08B to €1.01B, while imports increased by €39.8M (2.97%) from €1.34B to €1.38B.

Trade In November 2024, the top exports of Murcia were Lettuce (€86.2M), Crude Petroleum (€79.3M), Citrus (€56.6M), Refined Petroleum (€56M), and Cabbages (€44.6M). In November 2024 the top imports of Murcia were Crude Petroleum (€701M), Refined Petroleum (€80.9M), Petroleum Gas (€60.2M), Soybeans (€41.7M), and Corn (€38M).

Destinations In November 2024, Murcia exported mostly to France (€148M), Germany (€136M), United Kingdom (€78.2M), Netherlands (€74.4M), and Italy (€64.3M), and imported mostly from Mexico (€196M), Brazil (€155M), United States (€98.5M), Iraq (€93.4M), and Guyana (€91.8M).

Growth In November 2024, the decrease in Murcia's year-by-year exports was explained primarily by an decrease in exports to Gibraltar (€-36.2M or -99.9%), United Kingdom (€-21.7M or -21.8%), and France (€-21.5M or -12.6%), and product exports decrease in Refined Petroleum (€-50.3M or -47.3%), Petroleum Gas (€-23.8M or -96.3%), and Polyacetals (€-12M or -33%). In November 2024, the increase in Murcia's year-by-year imports was explained primarily by an increase in imports from Brazil (€148M or 2.02k%), Mexico (€114M or 139%), and Russia (€38.7M or 10.4M%), and product imports increase in Petroleum Gas (€60.1M or 40.5k%), Refined Petroleum (€58.4M or 259%), and Coal Tar Oil (€31.4M or 7.32M%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (November 2023 - November 2024)€-73M(-6.77%)

IMPORT GROWTH (November 2023 - November 2024)€39.8M(2.97%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)France€2.27B

Top Product (2023)Light petroleum distillates nes€1.65B

In 2023 the top export destinations of Murcia were France (€2.27B), Germany (€1.59B), Netherlands (€1.25B), Morocco (€1.07B), and Italy (€1.05B).

In 2023 the top exports of Murcia were Light petroleum distillates nes (€1.65B), Crude Petroleum Oils (€782M), Commodities not specified according to kind (€733M), Petroleum spirit for motor vehicles (€451M), and Cauliflowers & Broccoli (Fresh/Chilled) (€436M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Nov 2023 - Nov 2024)

Slovenia €21.4M (1.43k%)

Malta €10.9M (1.17k%)

Germany €7.3M (5.68%)

Rapidly Declining Export Origins (Nov 2023 - Nov 2024)

Gibraltar -€36.2M (-99.9%)

United Kingdom -€21.7M (-21.8%)

France -€21.5M (-12.6%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Mexico€1.56B

Top Import (2023)Crude Petroleum Oils€8.06B

In 2023 the top import origins of Murcia were Mexico (€1.56B), Saudi Arabia (€1.33B), China (€897M), Brazil (€855M), and Canada (€792M).

In 2023 the top imports of Murcia were Crude Petroleum Oils (€8.06B), Soya Beans (Excl. Seed, Broken or... (€491M), Maize except seed corn (€364M), Light petroleum distillates nes (€344M), and Refined sugar, in solid form, nes,... (€238M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Nov 2023 - Nov 2024)

Brazil €148M (2.02k%)

Mexico €114M (139%)

Russia €38.7M (10.4M%)

Rapidly Declining Import Origins (Nov 2023 - Nov 2024)

Kazakhstan -€90.7M (-65.2%)

Gabon -€83.5M (-100%)

Canada -€75.7M (-99.1%)

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Economic Complexity

Economic Complexity of Murcia

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Geomap

Treemap

Economic Complexity (2023)-0.48

Murcia ranks 45th 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. Murcia it is in position 45th 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 Murcia already has a comparative advantage, are led by Cement (0.24), Processed Crustaceans (0.23), Molasses (0.23), Other Oily Seeds (0.23), and Dried/Salted/Smoked/Brined Fish (0.23).

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Most Complex Products by PCI

The highest complexity exports of Murcia according to the product complexity index (PCI) are Cyclic Alcohols (0.82), Polyacetals (0.7), Pig Meat (0.7), Animal Fat (0.34), Scented Mixtures (0.25), Other Large Iron Pipes (0.22), Polishes and Creams (0.22), Vegetable or Animal Dyes (0.21), Glycosides (0.18), and Sausages (0.17). 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 Lettuce (319.30), Cabbages (219.28), Sheep and Goats (92.32), Melons (89.53), and Pepper (83.88).

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