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Overview This page contains the latest international trade data for Palencia. In December 2023 Palencia was the number 28 in total exports and the number 43 in total imports in Spain.

Exports In 2023, Spain's Palencia exported €1.89B, making it the 28th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Palencia were Small Sized Cars (€1.35B), Coffee Extracts & Coffee-Based Preparations (€182M), Communion wafers, rice paper, bakers wares... (€153M), Small Diesel Cars (€149M), and Food preparations: sweet biscuits, whether or... (€109M).

Imports In 2023, Spain's Palencia imported €740M, making it the 43rd largest importer out of the 52 importers in Spain. In 2023 top imports of Palencia were Ignition/other wiring sets for vehicles/aircraft/ship (€91.5M), Unroasted Coffee (Non-Decaffeinated) (€43.9M), Coffee Extracts & Coffee-Based Preparations (€29.1M), Molluscs; octopus (Octopus spp.), frozen (€25.3M), and Refined sugar, in solid form, nes,... (€21.9M).

Economic Complexity In 2023, the highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.71), Amino-resins (1.21), Electric Batteries (1.18), Motor vehicles; parts and accessories (8701... (0.97), Cars (0.96), Vending Machines (0.87), Trailers and semi-trailers, not mechanically propelled... (0.83), Soil Preparation Machinery (0.7), Waxes (0.61), and Cement Articles (0.42). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)France€898M
Top Product (2023)Small Sized Cars€1.35B

In 2023 the top export destinations of Palencia were France (€898M), Belgium (€424M), Italy (€243M), Portugal (€221M), and Poland (€86.9M).

In 2023 the top exports of Palencia were Small Sized Cars (€1.35B), Coffee Extracts & Coffee-Based Preparations (€182M), Communion wafers, rice paper, bakers wares... (€153M), Small Diesel Cars (€149M), and Food preparations: sweet biscuits, whether or... (€109M).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
France €55.2M (53.4%)
Belgium €9.58M (65.5%)
United States €4.22M (152%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
Italy -€14.7M (-55%)
Switzerland -€4.01M (-85.9%)
Japan -€2.04M (-43.9%)

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Yearly Imports

Color
Depth
Top Origin (2023)Germany€112M

In 2023 the top import origins of Palencia were Germany (€112M), Morocco (€107M), France (€99.4M), Portugal (€49.8M), and Italy (€42.7M).

In 2023 the top imports of Palencia were Ignition/other wiring sets for vehicles/aircraft/ship (€91.5M), Unroasted Coffee (Non-Decaffeinated) (€43.9M), Coffee Extracts & Coffee-Based Preparations (€29.1M), Molluscs; octopus (Octopus spp.), frozen (€25.3M), and Refined sugar, in solid form, nes,... (€21.9M).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
Finland €2.9M (1.25k%)
Belgium €2.62M (302%)
Mauritania €2.5M (167%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
France -€2.95M (-35.4%)
Poland -€1.31M (-60.9%)
Portugal -€836k (-20.6%)

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Economic Complexity

Economic Complexity of Palencia

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Economic Complexity (2023)-0.092

Palencia ranks 16th 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

The economic complexity of a territory can change year to year. Palencia it is in position 16th 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 Palencia already has a comparative advantage, are led by Other Prepared Meat (0.063), Confectionery Sugar (0.062), Milk (0.061), Wood Crates (0.061), and Toilet Paper (0.061).

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Most Complex Products by PCI

The highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.71), Amino-resins (1.21), Electric Batteries (1.18), Motor vehicles; parts and accessories (8701... (0.97), Cars (0.96), Vending Machines (0.87), Trailers and semi-trailers, not mechanically propelled... (0.83), Soil Preparation Machinery (0.7), Waxes (0.61), and Cement Articles (0.42). 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 Coffee and Tea Extracts (174.04), Baked Goods (50.07), Rolling Machines (38.30), Prepared Cereals (27.40), and Explosive Ammunition (19.32).

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Product Space

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.

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Relatedness Space

This network shows the products most related to the production structure of  Palencia. These are products that tend to be co-exported with the products that Palencia 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
Filter

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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