Teruel | The Observatory of Economic Complexity

Teruel

Province in Aragon, Autonomous Community in Spain

2023
Economic
Complexity -0.19Rank 25 of 49

Jan 2024
Trade
Exports | Imports €42.1M | €20.6M49 of 53 | 50 of 53

Jan 2024
Country
Destination | Origin France | France €12.8M | €5.61M

Image 1

Image by Jesus Abizanda
Link: https://flic.kr/p/3bDBud

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Teruel. In January 2024 Teruel was the number 47 in total exports and the number 49 in total imports in Spain.

Exports In 2023, Spain's Teruel exported €522M, making it the 47th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Teruel were Aircraft engines, spark-ignition (€83.2M), Props etc for scaffold, shuttering, pits,... (€51.9M), Parts of cranes, work-trucks, shovels, constr... (€45.9M), Wheels including parts/accessories for motor vehicles (€42.8M), and Cast articles of iron or steel,... (€42.4M).

Imports In 2023, Spain's Teruel imported €312M, making it the 49th largest importer out of the 52 importers in Spain. In 2023 top imports of Teruel were Lead waste or scrap (€39.8M), Aluminium unwrought, alloyed (€15.7M), Urea resins and thiourea resins (€14.8M), Urea, including aqueous solution in packs... (€9.22M), and Aircraft parts (excl. propellers/rotors, undercarriages) (€9.18M).

Economic Complexity In 2023, the highest complexity exports of Teruel according to the product complexity index (PCI) are Other Cast Iron Products (0.39), Processed Mushrooms (0.39), Iron Oxides and Hydroxides (N/A), Iron Chains (1.42), Glass with Edge Workings (1.34), Stone Working Machines (1.15), Spark-Ignition Engines (1.06), Lifting Machinery (1.05), Tractors (1.03), and Glass Mirrors (0.99). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

January, 2024

About

Overview In January 2024 Teruel exported €42.1M and imported €20.6M, resulting in a positive trade balance of €21.5M. Between January 2023 and January 2024 the exports of Teruel have decreased by $-6.24M (-12.9%) from €48.3M to €42.1M, while imports decreased by €-2.54M (-11%) from €23.1M to €20.6M.

Trade In January 2024, the top exports of Teruel were Motor vehicles; parts and accessories (8701... (€5.07M), Iron Structures (€4.98M), Pure Olive Oil (€3.77M), Other Vegetables (€3.6M), and Mixed Mineral or Chemical Fertilizers (€3.25M). In January 2024 the top imports of Teruel were Scrap Lead (€3.94M), Raw Aluminium (€2.73M), Amino-resins (€1.5M), Pigs (€813k), and Kraft Paper (€620k).

Destinations In January 2024, Teruel exported mostly to France (€12.8M), Germany (€8.02M), Italy (€6.71M), Portugal (€4.33M), and United States (€1.49M), and imported mostly from France (€5.61M), Portugal (€2.97M), Germany (€2.54M), Italy (€1.51M), and Bahrain (€1.37M).

Growth In January 2024, the decrease in Teruel's year-by-year exports was explained primarily by an decrease in exports to Italy (€-3.43M or -46.3%), Bulgaria (€-1.88M or -100%), and Portugal (€-1.19M or -29.6%), and product exports decrease in Pure Olive Oil (€-2.9M or -99.4%), Iron Structures (€-1.69M or -31%), and Nitrogenous Fertilizers (€-1.06M or -62.3%). In January 2024, the decrease in Teruel's year-by-year imports was explained primarily by an decrease in imports from Morocco (€-1.89M or -96.4%), United Arab Emirates (€-532k or -50.7%), and Portugal (€-356k or -10%), and product imports decrease in Amino-resins (€-541k or -23.7%), Office Machine Parts (€-178k or -95.7%), and Prepr binder for foundry (€-157k or -72.1%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (January 2023 - January 2024)€-6.24M(-12.9%)

IMPORT GROWTH (January 2023 - January 2024)€-2.54M(-11%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)France€142M

Top Product (2023)Aircraft engines, spark-ignition€83.2M

In 2023 the top export destinations of Teruel were France (€142M), Germany (€85.7M), United Kingdom (€51.2M), Portugal (€46.2M), and Italy (€44.1M).

In 2023 the top exports of Teruel were Aircraft engines, spark-ignition (€83.2M), Props etc for scaffold, shuttering, pits,... (€51.9M), Parts of cranes, work-trucks, shovels, constr... (€45.9M), Wheels including parts/accessories for motor vehicles (€42.8M), and Cast articles of iron or steel,... (€42.4M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Italy €2.73M (68.8%)

Portugal €1.5M (53.1%)

Bulgaria €941k (336k%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Ghana -€6.32M (-100%)

France -€1.96M (-13.2%)

Morocco -€1.44M (-63.1%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)France€64.8M

Top Import (2023)Lead waste or scrap€39.8M

In 2023 the top import origins of Teruel were France (€64.8M), Germany (€31.3M), Portugal (€31.2M), Italy (€22.2M), and United States (€11.9M).

In 2023 the top imports of Teruel were Lead waste or scrap (€39.8M), Aluminium unwrought, alloyed (€15.7M), Urea resins and thiourea resins (€14.8M), Urea, including aqueous solution in packs... (€9.22M), and Aircraft parts (excl. propellers/rotors, undercarriages) (€9.18M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Bahrain €847k (161%)

Belgium €586k (533%)

Switzerland €496k (470%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

France -€2.67M (-32.2%)

Norway -€1.07M (-99.8%)

Germany -€638k (-20.1%)

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Economic Complexity

Economic Complexity of Teruel

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Geomap

Treemap

Economic Complexity (2023)-0.19

Teruel ranks 25th 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. Teruel it is in position 25th 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 Teruel already has a comparative advantage, are led by Wood Fiberboard (0.09), Pickled Foods (0.09), Plaster Articles (0.09), Fermented Milk Products (0.089), and Other Prepared Meat (0.089).

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Most Complex Products by PCI

The highest complexity exports of Teruel according to the product complexity index (PCI) are Other Cast Iron Products (0.39), Processed Mushrooms (0.39), Iron Oxides and Hydroxides (N/A), Iron Chains (1.42), Glass with Edge Workings (1.34), Stone Working Machines (1.15), Spark-Ignition Engines (1.06), Lifting Machinery (1.05), Tractors (1.03), and Glass Mirrors (0.99). 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 Other Cast Iron Products (197.84), Processed Mushrooms (103.72), Iron Oxides and Hydroxides (93.20), Sheep and Goats (91.00), and Dried Fruits (82.36).

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