Palencia

Province in Castilla y León, Autonomous Community in Spain

Exports (2019): €3.27B, Rnk 22/52

Top Destination (2019): €1.01B, France

Top Export (2019): €1.31B, Small Sized Cars

Imports (2019): €715M, Rnk 38/52

Top Origin (2019): €152M, Germany

Top Import (2019): €225M, Motor vehicle parts nes

Economic Complexity (2019): -0.043, Rnk 13 / 52

Overview: This page contains the latest international trade data for Palencia, including export and import data.

Exports: In 2019, Spain's Palencia exported €3.27B, making it the 22nd largest exporter out of the 52 exporters in Spain. In 2019 the top exports of Palencia were Small Sized Cars (€1.31B), Medium Diesel Engine Cars (€616M), Small Diesel Engine Cars (€600M), Medium Sized Cars (€146M), and Extracts, essences and concentrates: of coffee,... (€131M).

Imports: In 2019, Spain's Palencia imported €715M, making it the 38th largest importer out of the 52 importers in Spain. In 2019 top imports of Palencia were Motor vehicle parts nes (€225M), Ignition/other wiring sets for vehicles/aircraft/ship (€81.5M), Coffee, not roasted, not decaffeinated (€30.6M), Molluscs; octopus (Octopus spp.), frozen (€30.1M), and Crustaceans: frozen, shrimps and prawns, excluding... (€20.6M).

Economic Complexity: In 2019, the highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.93), Trailers (0.9), Cars (0.8), Waxes (0.65), and Aluminium Pipes (0.65). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Yearly Exports

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Value
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Top Destination (2019): France, €1.01B

Top Product (2019): Small Sized Cars, €1.31B

In 2019 the top export destinations of Palencia were France (€1.01B), Belgium (€699M), Italy (€343M), United Kingdom (€276M), and Portugal (€216M).

In 2019 the top exports of Palencia were Small Sized Cars (€1.31B), Medium Diesel Engine Cars (€616M), Small Diesel Engine Cars (€600M), Medium Sized Cars (€146M), and Extracts, essences and concentrates: of coffee,... (€131M).

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Export Dynamics

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Fastest Growing Exports Destination (June 2019 - June 2020)

Rapidly Declining Export Origins (June 2019 - June 2020)

Yearly Imports

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Top Origin (2019): Germany, €152M

Top Import (2019): Motor vehicle parts nes, €225M

In 2019 the top import origins of Palencia were Germany (€152M), Morocco (€98.3M), France (€93M), Hungary (€50.6M), and Italy (€47.5M).

In 2019 the top imports of Palencia were Motor vehicle parts nes (€225M), Ignition/other wiring sets for vehicles/aircraft/ship (€81.5M), Coffee, not roasted, not decaffeinated (€30.6M), Molluscs; octopus (Octopus spp.), frozen (€30.1M), and Crustaceans: frozen, shrimps and prawns, excluding... (€20.6M).

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Import Dynamics

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Fastest Growing Import Origins (June 2019 - June 2020)

Rapidly Declining Import Origins (June 2019 - June 2020)

Comparison in Time

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Flow
Value

This section shows differences between total trade from Palencia throughout time.

This section shows forecasts for total exports and imports from Palencia. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.

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Economic Complexity

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Economic Complexity of Spain

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Palencia ranks 13th out of the 52 provinces in Spain according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Palencia 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 Palencia already has a comparative advantage, are led by Confectionery Sugar (0.037), Salt (0.036), Insulating Glass (0.036), Other Prepared Meat (0.036), and Fruit Juice (0.035).

Most Complex Products by PCI

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The highest complexity exports of Palencia according to the product complexity index (PCI) are Rolling Machines (1.93), Trailers (0.9), Cars (0.8), Waxes (0.65), and Aluminium Pipes (0.65). 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 Coffee and Tea Extracts (87.3), Baked Goods (25.8), Explosive Ammunition (20.1), Cars (18.2), and Rolling Machines (15.8).

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.

Relatedness Space

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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.

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.