PalenciaProvince in Castile and León, Autonomous Community in Spain
2019 Economic Complexity: -0.2, Rank 24 of 49
Jan 2021 Trade Exports | Imports: €46.3M | €59.7M, 44 of 53 | 36 of 53
Jan 2021 Country Destination | Origin: Portugal | Germany , €11.9M | €10.8M
Jan 2021 Product Exports | Imports: Baked Goods | Vehicle Parts , €13.7M | €18.8M
Overview: This page contains the latest international trade data for Palencia, including export and import data.
Exports: In 2020, Spain's Palencia exported €1.93B, making it the 27th largest exporter out of the 52 exporters in Spain. In 2020 the top exports of Palencia were Small Diesel Engine Cars (€560M), Small Sized Cars (€446M), Medium Diesel Engine Cars (€257M), Extracts, essences and concentrates: of coffee,... (€136M), and Communion wafers, rice paper, bakers wares... (€107M).
Imports: In 2020, Spain's Palencia imported €638M, making it the 41st largest importer out of the 52 importers in Spain. In 2020 top imports of Palencia were Motor vehicle parts nes (€195M), Ignition/other wiring sets for vehicles/aircraft/ship (€51.5M), Coffee, not roasted, not decaffeinated (€28.3M), Molluscs; octopus (Octopus spp.), frozen (€27.2M), and Coffee, not roasted, decaffeinated (€19.5M).
Economic Complexity: In 2019, the highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.46), Cars (0.98), Trailers (0.83), Aluminium Pipe Fittings (0.79), and Waxes (0.74). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Palencia exported €46.3M and imported €59.7M, resulting in a negative trade balance of €13.3M. Between January 2020 and January 2021 the exports of Palencia have decreased by $-182M (-79.7%) from €228M to €46.3M, while imports decreased by €-3.16M (-5.02%) from €62.8M to €59.7M.
Trade: In January 2021, the top exports of Palencia were Baked Goods (€13.7M), Coffee and Tea Extracts (€9.26M), Vehicle Parts (€3.04M), Other Uncoated Paper (€2.53M), and Cars (€1.37M). In January 2021 the top imports of Palencia were Vehicle Parts (€18.8M), Molluscs (€6.31M), Crustaceans (€5.35M), Insulated Wire (€4.79M), and Coffee (€2.54M).
Destinations: In January 2021, Palencia exported mostly to Portugal (€11.9M), France (€6.71M), Italy (€3.7M), Germany (€3M), and United States (€2.94M), and imported mostly from Germany (€10.8M), Morocco (€10.5M), France (€6.88M), Argentina (€5.39M), and Hungary (€4.05M).
Growth: In January 2021, the decrease in Palencia's year-by-year exports was explained primarily by an decrease in exports to France (€-87.8M or -92.9%), Belgium (€-29M or -97.5%), and United Kingdom (€-18.4M or -90.5%), and product exports decrease in Cars (€-179M or -99.2%), Coffee and Tea Extracts (€-1.64M or -15.1%), and Other Uncoated Paper (€-1.1M or -30.2%). In January 2021, the decrease in Palencia's year-by-year imports was explained primarily by an decrease in imports from Cote d'Ivoire (€-1M or -86.5%), Mauritania (€-956k or -60.4%), and United Kingdom (€-934k or -85.3%), and product imports decrease in Vehicle Parts (€-2.87M or -13.3%), Coffee (€-2.58M or -50.4%), and Insulated Wire (€-1.28M or -21.1%).
EXPORT GROWTH (January 2020 - January 2021): €-182M, (-79.7%)
IMPORT GROWTH (January 2020 - January 2021): €-3.16M, (-5.02%)
This section shows exports and imports data at subnational level for Palencia. 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 Palencia over time.
This section shows the differences between Palencia's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Spain's country profile.
Top Destination (2020): France, €701M
Top Product (2020): Small Diesel Engine Cars, €560M
In 2020 the top export destinations of Palencia were France (€701M), Belgium (€292M), United Kingdom (€187M), Portugal (€161M), and Italy (€108M).
In 2020 the top exports of Palencia were Small Diesel Engine Cars (€560M), Small Sized Cars (€446M), Medium Diesel Engine Cars (€257M), Extracts, essences and concentrates: of coffee,... (€136M), and Communion wafers, rice paper, bakers wares... (€107M).
Fastest Growing Exports Destination (Jan 2020 - Jan 2021)
Rapidly Declining Export Origins (Jan 2020 - Jan 2021)
Top Origin (2020): Germany, €149M
Top Import (2020): Motor vehicle parts nes, €195M
In 2020 the top import origins of Palencia were Germany (€149M), France (€83.6M), Morocco (€68.2M), Hungary (€44.7M), and Italy (€42.1M).
In 2020 the top imports of Palencia were Motor vehicle parts nes (€195M), Ignition/other wiring sets for vehicles/aircraft/ship (€51.5M), Coffee, not roasted, not decaffeinated (€28.3M), Molluscs; octopus (Octopus spp.), frozen (€27.2M), and Coffee, not roasted, decaffeinated (€19.5M).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Palencia ranks 24th out of the 52 provinces in Spain according to ECI.
Estimated using exports data.
The economic complexity of a territory can change year to year. Palencia it is in position 24th considering its ECI in the last year.
The top export opportunities according to the relatedness level, without considering those products were Palencia already has a comparative advantage, are led by Salt (0.038), Other Prepared Meat (0.038), Confectionery Sugar (0.037), Other Edible Preparations (0.036), and Insulating Glass (0.036).
The highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.46), Cars (0.98), Trailers (0.83), Aluminium Pipe Fittings (0.79), and Waxes (0.74). 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 Coffee and Tea Extracts (90.2), Baked Goods (25.8), Cars (19), Rolling Machines (16.5), and Explosive Ammunition (16.1).
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 Palencia 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.
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