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Province in Basque Country, Autonomous Community in Spain

2023
Economic
Complexity 0.26Rank 3 of 49
Jul 2024
Trade
Exports | Imports €860M | €1.25B10 of 53 | 7 of 53
Jul 2024
Country
Destination | Origin France | Mexico €158M  | €110M

About

Overview This page contains the latest international trade data for Vizcaya. In July 2024 Vizcaya was the number 8 in total exports and the number 6 in total imports in Spain.

Exports In 2023, Spain's Vizcaya exported €13.3B, making it the 8th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Vizcaya were Petroleum spirit for motor vehicles (€843M), Light petroleum distillates nes (€748M), Commodities not specified according to kind (€545M), Pneumatic tyres new of rubber for... (€410M), and Pneumatic tyres new of rubber for... (€335M).

Imports In 2023, Spain's Vizcaya imported €18B, making it the 6th largest importer out of the 52 importers in Spain. In 2023 top imports of Vizcaya were Petroleum oils, oils from bituminous minerals,... (€4.74B), Light petroleum distillates nes (€1.07B), Natural gas, liquefied (€745M), Soya beans: other than seed, whether... (€475M), and Chemical products, mixtures and preparations; Others... (€446M).

Economic Complexity In 2023, the highest complexity exports of Vizcaya according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.8), Metal Lathes (1.78), Interchangeable Tool Parts (1.76), Other Stainless Steel Bars (1.51), Iron Chains (1.42), Casting Machines (1.16), Industrial Furnaces (0.97), Compounded Unvulcanised Rubber (0.9), Large Flat-Rolled Iron (0.74), and Iron Powder (0.71). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

July, 2024

About

Overview In July 2024 Vizcaya exported €860M and imported €1.25B, resulting in a negative trade balance of €391M. Between July 2023 and July 2024 the exports of Vizcaya have decreased by $-112M (-11.5%) from €972M to €860M, while imports decreased by €-164M (-11.6%) from €1.41B to €1.25B.

Trade In July 2024, the top exports of Vizcaya were Crude Petroleum (€53.4M), Motor vehicles; parts and accessories (8701... (€53M), Refined Petroleum (€37.6M), Gas Turbines (€36.4M), and Commodities not elsewhere specified (€28.7M). In July 2024 the top imports of Vizcaya were Crude Petroleum (€409M), Refined Petroleum (€91M), Soybeans (€47.7M), Hot-Rolled Iron (€44.4M), and Prepr binder for foundry (€37.2M).

Destinations In July 2024, Vizcaya exported mostly to France (€158M), Germany (€100M), United Kingdom (€79.2M), Belgium (€69.6M), and Italy (€54.2M), and imported mostly from Mexico (€110M), United States (€104M), Brazil (€102M), Germany (€100M), and United Kingdom (€82.2M).

Growth In July 2024, the decrease in Vizcaya's year-by-year exports was explained primarily by an decrease in exports to United States (€-61.5M or -56.5%), Germany (€-25.4M or -20.2%), and Italy (€-17.5M or -24.4%), and product exports decrease in Refined Petroleum (€-61.7M or -62.1%), Rubber Tires (€-41M or -61.9%), and Cars (€-21.9M or -65.2%). In July 2024, the decrease in Vizcaya's year-by-year imports was explained primarily by an decrease in imports from United States (€-181M or -63.6%), Norway (€-108M or -98.9%), and Libya (€-54.5M or -83.5%), and product imports decrease in Petroleum Gas (€-126M or -95.4%), Crude Petroleum (€-39.7M or -8.86%), and Refined Petroleum (€-28.1M or -23.6%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (July 2023 - July 2024)€-112M(-11.5%)
IMPORT GROWTH (July 2023 - July 2024)€-164M(-11.6%)

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

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)France€1.97B
Top Product (2023)Petroleum spirit for motor vehicles€843M

In 2023 the top export destinations of Vizcaya were France (€1.97B), Germany (€1.48B), United States (€1.11B), Belgium (€937M), and Netherlands (€920M).

In 2023 the top exports of Vizcaya were Petroleum spirit for motor vehicles (€843M), Light petroleum distillates nes (€748M), Commodities not specified according to kind (€545M), Pneumatic tyres new of rubber for... (€410M), and Pneumatic tyres new of rubber for... (€335M).

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Exports Dynamics

Fastest Growing Exports Destination (Jul 2023 - Jul 2024)
Belgium €26.3M (60.9%)
United Kingdom €13.8M (21%)
France €9.21M (6.18%)
Rapidly Declining Export Origins (Jul 2023 - Jul 2024)
United States -€61.5M (-56.5%)
Germany -€25.4M (-20.2%)
Italy -€17.5M (-24.4%)

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Yearly Imports

Color
Depth
Top Origin (2023)United States€1.53B
Top Import (2023)Petroleum oils, oils from bituminous minerals,...€4.74B

In 2023 the top import origins of Vizcaya were United States (€1.53B), Brazil (€1.29B), Germany (€1.11B), Mexico (€971M), and China (€949M).

In 2023 the top imports of Vizcaya were Petroleum oils, oils from bituminous minerals,... (€4.74B), Light petroleum distillates nes (€1.07B), Natural gas, liquefied (€745M), Soya beans: other than seed, whether... (€475M), and Chemical products, mixtures and preparations; Others... (€446M).

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Imports Dynamics

Fastest Growing Import Origins (Jul 2023 - Jul 2024)
Mexico €75.6M (220%)
Venezuela €55.4M (322%)
United Kingdom €55.1M (204%)
Rapidly Declining Import Origins (Jul 2023 - Jul 2024)
United States -€181M (-63.6%)
Norway -€108M (-98.9%)
Libya -€54.5M (-83.5%)

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Economic Complexity

Economic Complexity of Vizcaya

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Economic Complexity (2023)0.26

Vizcaya ranks 3rd 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. Vizcaya it is in position 3rd 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 Vizcaya already has a comparative advantage, are led by Additive manufacturing machines (0.2), Cars (0.2), Other Zinc Products (0.2), Electrical Lighting and Signalling Equipment (0.2), and Liquid Pumps (0.2).

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Most Complex Products by PCI

The highest complexity exports of Vizcaya according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.8), Metal Lathes (1.78), Interchangeable Tool Parts (1.76), Other Stainless Steel Bars (1.51), Iron Chains (1.42), Casting Machines (1.16), Industrial Furnaces (0.97), Compounded Unvulcanised Rubber (0.9), Large Flat-Rolled Iron (0.74), and Iron Powder (0.71). 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 Stainless Steel Bars (63.45), Inedible Fats and Oils (55.42), Detonating Fuses (46.10), Other Cast Iron Products (41.43), and Large Flat-Rolled Iron (33.19).

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