VizcayaProvince in Basque Country, Autonomous Community in Spain
2020 Economic Complexity : 0.26, Rank 3 of 49
Dec 2022 Trade Exports | Imports: €975M | €1.51B, 9 of 53 | 5 of 53
Dec 2022 Country Destination | Origin: France | Russia , €170M | €150M
Dec 2022 Product Exports | Imports: Light petroleum distillates nes | Petroleum oils, oils from bituminous minerals, crude , €129M | €569M
Overview This page contains the latest international trade data for Vizcaya. In December 2022 Vizcaya was the number 7 in total exports and the number 5 in total imports in Spain.
Exports In 2022, Spain's Vizcaya exported €13.2B, making it the 7th largest exporter out of the 52 exporters in Spain. In 2022 the top exports of Vizcaya were Petroleum spirit for motor vehicles (€1.5B), Light petroleum distillates nes (€1.07B), Commodities not specified according to kind (€445M), Pneumatic tyres new of rubber for... (€347M), and Aluminium alloy rectangular plate/sheet/strip,t >0.2m (€334M).
Imports In 2022, Spain's Vizcaya imported €17.9B, making it the 5th largest importer out of the 52 importers in Spain. In 2022 top imports of Vizcaya were Petroleum oils, oils from bituminous minerals,... (€6.51B), Natural gas, liquefied (€1.27B), Soya beans: other than seed, whether... (€587M), Light petroleum distillates nes (€515M), and Chemical products, mixtures and preparations; Others... (€377M).
Economic Complexity In 2020, the highest complexity exports of Vizcaya according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.76), Other Stainless Steel Bars (1.47), Large Flat-Rolled Iron (0.55), Other Steel Bars (0.41), and Other Cast Iron Products (0.33). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
Overview In December 2022 Vizcaya exported €975M and imported €1.51B, resulting in a negative trade balance of €538M. Between December 2021 and December 2022 the exports of Vizcaya have increased by $187M (23.7%) from €788M to €975M, while imports increased by €411M (37.3%) from €1.1B to €1.51B.
Trade In December 2022, the top exports of Vizcaya were Refined Petroleum (€229M), Rubber Tires (€54M), Motor vehicles; parts and accessories (8701... (€50.2M), Commodities not elsewhere specified (€47.3M), and Biodiesel and mixtures thereof (€35.2M). In December 2022 the top imports of Vizcaya were Crude Petroleum (€569M), Petroleum Gas (€135M), Refined Petroleum (€87.1M), Soybeans (€67.4M), and Hot-Rolled Iron (€34.9M).
Destinations In December 2022, Vizcaya exported mostly to France (€170M), United States (€122M), Belgium (€120M), Germany (€75.7M), and Netherlands (€60.7M), and imported mostly from Russia (€150M), United Kingdom (€116M), Mexico (€108M), United States (€108M), and Iraq (€97.9M).
Growth In December 2022, the increase in Vizcaya's year-by-year exports was explained primarily by an increase in exports to Netherlands (€53.2M or 71.6%), Germany (€32.9M or 37%), and France (€24.5M or 23.5%), and product exports increase in Refined Petroleum (€83.6M or 123%), Inedible Fats and Oils (€19.8M or 123%), and Other Cast Iron Products (€14.5M or 141%). In December 2022, the increase in Vizcaya's year-by-year imports was explained primarily by an increase in imports from United Kingdom (€76.9M or 748%), Brazil (€66.1M or 1.8k%), and Ireland (€52.1M or 252%), and product imports increase in Crude Petroleum (€89M or 37.5%), Petroleum Gas (€32.4M or 313%), and Prepr binder for foundry (€28.1M or 238%).
EXPORT GROWTH (December 2021 - December 2022): €187M, (23.7%)
IMPORT GROWTH (December 2021 - December 2022): €411M, (37.3%)
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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Top Destination (2022): France, €1.85B
Top Product (2022): Petroleum spirit for motor vehicles, €1.5B
In 2022 the top export destinations of Vizcaya were France (€1.85B), Netherlands (€1.54B), Germany (€1.52B), Belgium (€1.15B), and United States (€947M).
In 2022 the top exports of Vizcaya were Petroleum spirit for motor vehicles (€1.5B), Light petroleum distillates nes (€1.07B), Commodities not specified according to kind (€445M), Pneumatic tyres new of rubber for... (€347M), and Aluminium alloy rectangular plate/sheet/strip,t >0.2m (€334M).
Fastest Growing Exports Destination (Dec 2021 - Dec 2022)
Rapidly Declining Export Origins (Dec 2021 - Dec 2022)
Top Origin (2022): United States, €1.82B
Top Import (2022): Petroleum oils, oils from bituminous minerals,..., €6.51B
In 2022 the top import origins of Vizcaya were United States (€1.82B), Brazil (€1.55B), Germany (€1.08B), Mexico (€954M), and China (€925M).
In 2022 the top imports of Vizcaya were Petroleum oils, oils from bituminous minerals,... (€6.51B), Natural gas, liquefied (€1.27B), Soya beans: other than seed, whether... (€587M), Light petroleum distillates nes (€515M), and Chemical products, mixtures and preparations; Others... (€377M).
Fastest Growing Import Origins (Dec 2021 - Dec 2022)
Rapidly Declining Import Origins (Dec 2021 - Dec 2022)
Economic Complexity (2022): 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.
The economic complexity of a territory can change year to year. Vizcaya it is in position 3rd considering its ECI in the last year.
The top export opportunities according to the relatedness level, without considering those products were Vizcaya already has a comparative advantage, are led by Electrical Lighting and Signalling Equipment (0.19), Other Zinc Products (0.19), Cars (0.19), Electric Soldering Equipment (0.19), and Vehicle Bodies (including cabs) for the... (0.19).
The highest complexity exports of Vizcaya according to the product complexity index (PCI) are Hot-Rolled Stainless Steel Bars (1.76), Other Stainless Steel Bars (1.47), Large Flat-Rolled Iron (0.55), Other Steel Bars (0.41), and Other Cast Iron Products (0.33). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Inedible Fats and Oils (81.2), Other Stainless Steel Bars (71.0), Large Flat-Rolled Iron (40.6), Hot-Rolled Stainless Steel Bars (40.5), and Other Cast Iron Products (31.8).
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.
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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