Valencia | The Observatory of Economic Complexity

Valencia

Province in Valencian Community, Autonomous Community in Spain

2023
Economic
Complexity -0.13Rank 21 of 49

Nov 2024
Trade
Exports | Imports €1.47B | €1.86B3 of 53 | 3 of 53

Nov 2024
Country
Destination | Origin Germany | China €199M | €310M

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Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Valencia. In November 2024 Valencia was the number 3 in total exports and the number 3 in total imports in Spain.

Exports In 2023, Spain's Valencia exported €21.6B, making it the 3rd largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Valencia were Spark-ignition chargeable Cars (€2.45B), Static converters, nes (€1.1B), Oranges (Fresh/Dried) (€599M), Small Sized Cars (€558M), and Engines, spark-ignition reciprocating, over 1000 cc (€511M).

Imports In 2023, Spain's Valencia imported €24.5B, making it the 3rd largest importer out of the 52 importers in Spain. In 2023 top imports of Valencia were Spark-ignition non chargeable Cars (€1.7B), Photosensitive devices; assembled photovoltaic modules/panels (€573M), Transmissions for motor vehicles (€507M), Static converters, nes (€446M), and Light petroleum distillates nes (€427M).

Economic Complexity In 2023, the highest complexity exports of Valencia according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.36), Flat Flat-Rolled Steel (1.27), Spark-Ignition Engines (1.08), Boiler Plants (1.05), Electrical Transformers (0.85), Cars (0.81), Delivery Trucks (0.47), Plastic Wash Basins (0.44), Roofing Tiles (0.42), and Scented Mixtures (0.25). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

November, 2024

About

Overview In November 2024 Valencia exported €1.47B and imported €1.86B, resulting in a negative trade balance of €389M. Between November 2023 and November 2024 the exports of Valencia have decreased by $-666M (-31.2%) from €2.14B to €1.47B, while imports decreased by €-170M (-8.39%) from €2.03B to €1.86B.

Trade In November 2024, the top exports of Valencia were Citrus (€174M), Cars (€137M), Electrical Transformers (€105M), Other Fruits (€54.5M), and Motor vehicles; parts and accessories (8701... (€33.3M). In November 2024 the top imports of Valencia were Cars (€307M), Refined Petroleum (€65.1M), Delivery Trucks (€45.9M), Motor vehicles; parts and accessories (8701... (€44.5M), and Telephones (€33M).

Destinations In November 2024, Valencia exported mostly to Germany (€199M), France (€158M), United States (€122M), United Kingdom (€106M), and Belgium (€103M), and imported mostly from China (€310M), Turkey (€164M), France (€149M), Italy (€147M), and Germany (€138M).

Growth In November 2024, the decrease in Valencia's year-by-year exports was explained primarily by an decrease in exports to Germany (€-99.5M or -33.3%), Italy (€-86.8M or -50.2%), and United States (€-79.4M or -39.5%), and product exports decrease in Cars (€-170M or -55.3%), Delivery Trucks (€-76.7M or -86.4%), and Citrus (€-53.5M or -23.5%). In November 2024, the decrease in Valencia's year-by-year imports was explained primarily by an decrease in imports from Germany (€-42.8M or -23.7%), United Kingdom (€-42.2M or -55.3%), and United States (€-34M or -28.9%), and product imports decrease in Motor vehicles; parts and accessories (8701... (€-65.9M or -59.7%), Corn (€-20.9M or -49.7%), and Engine Parts (€-19.9M or -63.4%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (November 2023 - November 2024)€-666M(-31.2%)

IMPORT GROWTH (November 2023 - November 2024)€-170M(-8.39%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)Germany€2.71B

Top Product (2023)Spark-ignition chargeable Cars€2.45B

In 2023 the top export destinations of Valencia were Germany (€2.71B), France (€2.63B), Italy (€2.04B), United States (€2.02B), and United Kingdom (€1.77B).

In 2023 the top exports of Valencia were Spark-ignition chargeable Cars (€2.45B), Static converters, nes (€1.1B), Oranges (Fresh/Dried) (€599M), Small Sized Cars (€558M), and Engines, spark-ignition reciprocating, over 1000 cc (€511M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Nov 2023 - Nov 2024)

Belgium €13.7M (15.4%)

Turkey €11.1M (26.8%)

Romania €2.64M (19.4%)

Rapidly Declining Export Origins (Nov 2023 - Nov 2024)

Germany -€99.5M (-33.3%)

Italy -€86.8M (-50.2%)

United States -€79.4M (-39.5%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)China€3.82B

Top Import (2023)Spark-ignition non chargeable Cars€1.7B

In 2023 the top import origins of Valencia were China (€3.82B), France (€2.06B), Germany (€1.99B), Italy (€1.68B), and Turkey (€1.34B).

In 2023 the top imports of Valencia were Spark-ignition non chargeable Cars (€1.7B), Photosensitive devices; assembled photovoltaic modules/panels (€573M), Transmissions for motor vehicles (€507M), Static converters, nes (€446M), and Light petroleum distillates nes (€427M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Nov 2023 - Nov 2024)

Turkey €71.6M (77.3%)

Netherlands €9.34M (11.5%)

Vietnam €8.1M (46.9%)

Rapidly Declining Import Origins (Nov 2023 - Nov 2024)

Germany -€42.8M (-23.7%)

United Kingdom -€42.2M (-55.3%)

United States -€34M (-28.9%)

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Economic Complexity

Economic Complexity of Valencia

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Geomap

Treemap

Economic Complexity (2023)-0.13

Valencia ranks 21st 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. Valencia it is in position 21st 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 Valencia already has a comparative advantage, are led by Pickled Foods (0.32), Raw Iron Bars (0.32), Toilet Paper (0.32), Frozen Fruits and Nuts (0.32), and Plaster Articles (0.32).

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Most Complex Products by PCI

The highest complexity exports of Valencia according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.36), Flat Flat-Rolled Steel (1.27), Spark-Ignition Engines (1.08), Boiler Plants (1.05), Electrical Transformers (0.85), Cars (0.81), Delivery Trucks (0.47), Plastic Wash Basins (0.44), Roofing Tiles (0.42), and Scented Mixtures (0.25). 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 Locomotives (184.29), Citrus (93.15), Ice Cream (31.56), Self-Propelled Rail Transport (29.48), and Cocoa Powder (26.15).

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