Valencia | The Observatory of Economic Complexity

Valencia

Province in Valencian Community, Autonomous Community in Spain

2023
Economic
Complexity -0.16Rank 21 of 49

Sep 2024
Trade
Exports | Imports €1.65B | €2.06B4 of 53 | 4 of 53

Sep 2024
Country
Destination | Origin France | China €189M | €411M

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Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Valencia. In September 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

September, 2024

About

Overview In September 2024 Valencia exported €1.65B and imported €2.06B, resulting in a negative trade balance of €411M. Between September 2023 and September 2024 the exports of Valencia have decreased by $-142M (-7.91%) from €1.79B to €1.65B, while imports increased by €86.7M (4.39%) from €1.98B to €2.06B.

Trade In September 2024, the top exports of Valencia were Cars (€433M), Other Locomotives (€43.7M), Motor vehicles; parts and accessories (8701... (€36.3M), Spark-Ignition Engines (€30.9M), and Electrical Transformers (€30.8M). In September 2024 the top imports of Valencia were Cars (€250M), Motor vehicles; parts and accessories (8701... (€92.1M), Petroleum Gas (€48.7M), Electrical Transformers (€43.6M), and Seats (€38.1M).

Destinations In September 2024, Valencia exported mostly to France (€189M), Germany (€181M), Italy (€159M), United Kingdom (€150M), and Portugal (€122M), and imported mostly from China (€411M), France (€171M), Germany (€158M), United States (€126M), and Italy (€118M).

Growth In September 2024, the decrease in Valencia's year-by-year exports was explained primarily by an decrease in exports to United States (€-132M or -61.1%), Canada (€-32.8M or -87.9%), and Germany (€-22.4M or -11%), and product exports decrease in Electrical Transformers (€-99.1M or -76.3%), Delivery Trucks (€-87.8M or -95.3%), and Spark-Ignition Engines (€-21.1M or -40.5%). In September 2024, the increase in Valencia's year-by-year imports was explained primarily by an increase in imports from China (€105M or 34.2%), Turkey (€43.2M or 60.7%), and Japan (€33.9M or 73.8%), and product imports increase in Cars (€114M or 84.4%), Rubber Tires (€14.1M or 100%), and Delivery Trucks (€13.7M or 67.2%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (September 2023 - September 2024)€-142M(-7.91%)

IMPORT GROWTH (September 2023 - September 2024)€86.7M(4.39%)

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 (Sep 2023 - Sep 2024)

Netherlands €23.5M (55.7%)

Belgium €21.2M (29.2%)

Czechia €8.66M (71%)

Rapidly Declining Export Origins (Sep 2023 - Sep 2024)

United States -€132M (-61.1%)

Canada -€32.8M (-87.9%)

Germany -€22.4M (-11%)

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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 (Sep 2023 - Sep 2024)

China €105M (34.2%)

Turkey €43.2M (60.7%)

Japan €33.9M (73.8%)

Rapidly Declining Import Origins (Sep 2023 - Sep 2024)

Italy -€69M (-36.8%)

Algeria -€17.1M (-48.6%)

Poland -€13.3M (-24.7%)

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Economic Complexity

Economic Complexity of Valencia

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Geomap

Treemap

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

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

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.