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Province in Valencian Community, Autonomous Community in Spain

2023
Economic
Complexity -0.16Rank 21 of 49
Aug 2024
Trade
Exports | Imports €1.2B | €1.6B3 of 53 | 3 of 53
Aug 2024
Country
Destination | Origin Germany | China €136M  | €355M

About

Overview This page contains the latest international trade data for Valencia. In August 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 Flat Flat-Rolled Steel (1.44), Boiler Plants (1.26), Self-Propelled Rail Transport (1.19), Spark-Ignition Engines (1.06), Cars (0.96), Electrical Transformers (0.77), Roofing Tiles (0.59), Delivery Trucks (0.45), Plastic Wash Basins (0.36), and Vegetable or Animal Dyes (0.32). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

August, 2024

About

Overview In August 2024 Valencia exported €1.2B and imported €1.6B, resulting in a negative trade balance of €400M. Between August 2023 and August 2024 the exports of Valencia have decreased by $-97.9M (-7.57%) from €1.29B to €1.2B, while imports increased by €58M (3.77%) from €1.54B to €1.6B.

Trade In August 2024, the top exports of Valencia were Cars (€127M), Electrical Transformers (€53.1M), Refined Petroleum (€35.6M), Other Locomotives (€33M), and Motor vehicles; parts and accessories (8701... (€26.8M). In August 2024 the top imports of Valencia were Cars (€172M), Motor vehicles; parts and accessories (8701... (€48M), Rubber Tires (€26.9M), Telephones (€26.3M), and Flat Flat-Rolled Steel (€25M).

Destinations In August 2024, Valencia exported mostly to Germany (€136M), France (€126M), United States (€95.2M), Italy (€86.3M), and Portugal (€83.4M), and imported mostly from China (€355M), Germany (€129M), Turkey (€102M), France (€99.2M), and Italy (€78M).

Growth In August 2024, the decrease in Valencia's year-by-year exports was explained primarily by an decrease in exports to United Kingdom (€-28.8M or -32.2%), Italy (€-23.3M or -21.2%), and France (€-22.5M or -15.2%), and product exports decrease in Cars (€-63.7M or -33.4%), Delivery Trucks (€-43.7M or -94.4%), and Spark-Ignition Engines (€-20.2M or -60.5%). In August 2024, the increase in Valencia's year-by-year imports was explained primarily by an increase in imports from China (€29.9M or 9.21%), Czechia (€13M or 111%), and Austria (€9.11M or 62.1%), and product imports increase in Cars (€36.6M or 27%), Delivery Trucks (€9.7M or 81.1%), and Cocoa Paste (€9.63M or 148%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (August 2023 - August 2024)€-97.9M(-7.57%)
IMPORT GROWTH (August 2023 - August 2024)€58M(3.77%)

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
Depth
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

Fastest Growing Exports Destination (Aug 2023 - Aug 2024)
Belgium €23.5M (49.2%)
Germany €9.68M (7.67%)
Czechia €8.06M (66.9%)
Rapidly Declining Export Origins (Aug 2023 - Aug 2024)
United Kingdom -€28.8M (-32.2%)
Italy -€23.3M (-21.2%)
France -€22.5M (-15.2%)

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Yearly Imports

Color
Depth
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

Fastest Growing Import Origins (Aug 2023 - Aug 2024)
China €29.9M (9.21%)
Czechia €13M (111%)
Austria €9.11M (62.1%)
Rapidly Declining Import Origins (Aug 2023 - Aug 2024)
Italy -€16.7M (-17.6%)
Ukraine -€15.8M (-65.1%)
Japan -€15.4M (-23.3%)

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Economic Complexity

Economic Complexity of Valencia

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Economic Complexity (2023)-0.16

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

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 (0.31), Raw Iron Bars (0.31), Frozen Fruits and Nuts (0.31), Wheat Flours (0.31), and Cement (0.31).

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Most Complex Products by PCI

The highest complexity exports of Valencia according to the product complexity index (PCI) are Flat Flat-Rolled Steel (1.44), Boiler Plants (1.26), Self-Propelled Rail Transport (1.19), Spark-Ignition Engines (1.06), Cars (0.96), Electrical Transformers (0.77), Roofing Tiles (0.59), Delivery Trucks (0.45), Plastic Wash Basins (0.36), and Vegetable or Animal Dyes (0.32). 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 (163.90), Citrus (87.66), Ice Cream (31.97), Self-Propelled Rail Transport (26.78), and Cocoa Powder (26.34).

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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 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
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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