Basque CountryAutonomous Community in Spain
2020 Economic Complexity : 0.33, Rank 1 of 18
Dec 2022 Trade Exports | Imports: €2.29B | €2.42B, 6 of 19 | 6 of 19
Dec 2022 Country Destination | Origin: France | Germany , €366M | €357M
Dec 2022 Product Exports | Imports: Light petroleum distillates nes | Petroleum oils, oils from bituminous minerals, crude , €129M | €569M
Overview This page contains the latest international trade data for Basque Country. In December 2022 Basque Country was the number 5 in total exports and the number 5 in total imports in Spain.
Exports In 2022, Spain's Basque Country exported €32.4B, making it the 5th largest exporter out of the 18 exporters in Spain. In 2022 the top exports of Basque Country were Medium Diesel Cars (€2.2B), Petroleum spirit for motor vehicles (€1.5B), Diesel Trucks < 5 tonnes (€1.18B), Light petroleum distillates nes (€1.09B), and Other Motor vehicle parts (€980M).
Imports In 2022, Spain's Basque Country imported €29.3B, making it the 5th largest importer out of the 18 importers in Spain. In 2022 top imports of Basque Country were Petroleum oils, oils from bituminous minerals,... (€6.51B), Natural gas, liquefied (€1.27B), Soya beans: other than seed, whether... (€589M), Light petroleum distillates nes (€526M), and Engines, diesel, for motor vehicles (€497M).
Economic Complexity In 2020, the highest complexity exports of Basque Country according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.84), Other Stainless Steel Bars (1.47), Stainless Steel Ingots (0.98), Drilling Machines (0.96), and Large Flat-Rolled Iron (0.55). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
Overview In December 2022 Basque Country exported €2.29B and imported €2.42B, resulting in a negative trade balance of €130M. Between December 2021 and December 2022 the exports of Basque Country have increased by $286M (14.3%) from €2B to €2.29B, while imports increased by €547M (29.2%) from €1.87B to €2.42B.
Trade In December 2022, the top exports of Basque Country were Refined Petroleum (€229M), Cars (€142M), Motor vehicles; parts and accessories (8701... (€125M), Rubber Tires (€84.7M), and Delivery Trucks (€71.3M). In December 2022 the top imports of Basque Country were Crude Petroleum (€569M), Petroleum Gas (€135M), Motor vehicles; parts and accessories (8701... (€111M), Refined Petroleum (€88.4M), and Soybeans (€67.7M).
Destinations In December 2022, Basque Country exported mostly to France (€366M), Germany (€258M), United States (€241M), Belgium (€158M), and United Kingdom (€130M), and imported mostly from Germany (€357M), France (€185M), China (€159M), Russia (€154M), and United Kingdom (€129M).
Growth In December 2022, the increase in Basque Country's year-by-year exports was explained primarily by an increase in exports to United States (€99.3M or 141%), France (€83.2M or 27.8%), and Netherlands (€69.4M or 71.3%), and product exports increase in Refined Petroleum (€84.2M or 123%), Cars (€44.6M or 24.2%), and Delivery Trucks (€35.9M or 25.8%). In December 2022, the increase in Basque Country's year-by-year imports was explained primarily by an increase in imports from United Kingdom (€91.5M or 517%), Germany (€75.7M or 34.4%), and Brazil (€67.5M or 1.28k%), and product imports increase in Crude Petroleum (€89M or 37.5%), Hot-Rolled Iron (€43.9M or 146%), and Petroleum Gas (€32.4M or 313%).
EXPORT GROWTH (December 2021 - December 2022): €286M, (14.3%)
IMPORT GROWTH (December 2021 - December 2022): €547M, (29.2%)
This section shows exports and imports data at subnational level for Basque Country. 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 Basque Country over time.
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Top Destination (2022): Germany, €5B
Top Product (2022): Medium Diesel Cars, €2.2B
In 2022 the top export destinations of Basque Country were Germany (€5B), France (€4.95B), United States (€2.25B), Netherlands (€1.97B), and United Kingdom (€1.89B).
In 2022 the top exports of Basque Country were Medium Diesel Cars (€2.2B), Petroleum spirit for motor vehicles (€1.5B), Diesel Trucks < 5 tonnes (€1.18B), Light petroleum distillates nes (€1.09B), and Other Motor vehicle parts (€980M).
Fastest Growing Exports Destination (Dec 2021 - Dec 2022)
Rapidly Declining Export Origins (Dec 2021 - Dec 2022)
Top Origin (2022): Germany, €3.76B
Top Import (2022): Petroleum oils, oils from bituminous minerals,..., €6.51B
In 2022 the top import origins of Basque Country were Germany (€3.76B), France (€2.46B), China (€2.13B), United States (€2.09B), and Brazil (€1.6B).
In 2022 the top imports of Basque Country were Petroleum oils, oils from bituminous minerals,... (€6.51B), Natural gas, liquefied (€1.27B), Soya beans: other than seed, whether... (€589M), Light petroleum distillates nes (€526M), and Engines, diesel, for motor vehicles (€497M).
Economic Complexity (2022): 0.33
Basque Country ranks 1st out of the 18 autonomous communities 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. Basque Country it is in position 1st considering its ECI in the last year.
The top export opportunities according to the relatedness level, without considering those products were Basque Country already has a comparative advantage, are led by Electrical Lighting and Signalling Equipment (0.3), Vehicle Bodies (including cabs) for the... (0.3), Electric Soldering Equipment (0.29), Metalworking Machines (0.29), and Other Heating Machinery (0.29).
The highest complexity exports of Basque Country according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.84), Other Stainless Steel Bars (1.47), Stainless Steel Ingots (0.98), Drilling Machines (0.96), and Large Flat-Rolled Iron (0.55). 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 Self-Propelled Rail Transport (45.9), Iron Blocks (37.1), Other Stainless Steel Bars (35.8), Inedible Fats and Oils (34.4), and Other Firearms (25.7).
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 Basque Country 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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