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Province in Castilla-La Mancha, Autonomous Community in Spain

2023
Economic
Complexity -0.17Rank 22 of 49
Jan 2024
Trade
Exports | Imports €118M | €106M39 of 53 | 36 of 53
Jan 2024
Country
Destination | Origin France | France €25.1M  | €21.4M

About

Overview This page contains the latest international trade data for Albacete. In January 2024 Albacete was the number 38 in total exports and the number 34 in total imports in Spain.

Exports In 2023, Spain's Albacete exported €1.45B, making it the 38th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Albacete were Aluminium alloy rectangular plate/sheet/strip,t >0.2m (€84.9M), Aircraft parts (excl. propellers/rotors, undercarriages) (€84.5M), Grape wines, alcoholic grape must nes (€71.5M), Other Cheeses (€67.9M), and Footwear, outer soles and uppers of... (€64.7M).

Imports In 2023, Spain's Albacete imported €1.28B, making it the 34th largest importer out of the 52 importers in Spain. In 2023 top imports of Albacete were Parts and accessories of office machines,... (€123M), Aircraft parts (excl. propellers/rotors, undercarriages) (€98M), Other Cheeses (€58.2M), Parts of turbo-jet or turbo-propeller engines (€55.3M), and Potatoes (Non-seed) (Fresh/Chilled) (€49.3M).

Economic Complexity In 2023, the highest complexity exports of Albacete according to the product complexity index (PCI) are Metalworking Machine Parts (1.5), Forging Machines (1.49), Gaskets (1.38), Other Stone Articles (1.1), Knives (1.06), Trailers and semi-trailers, not mechanically propelled... (0.83), Soil Preparation Machinery (0.7), Roofing Tiles (0.59), Military Weapons (0.57), and Glass Fibers (0.5). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

January, 2024

About

Overview In January 2024 Albacete exported €118M and imported €106M, resulting in a positive trade balance of €12.6M. Between January 2023 and January 2024 the exports of Albacete have increased by $8.06M (7.3%) from €110M to €118M, while imports increased by €5.17M (5.14%) from €101M to €106M.

Trade In January 2024, the top exports of Albacete were Aluminium Plating (€13M), Wine (€11.5M), Other Nuts (€6.41M), Leather Footwear (€6.01M), and Glass Bottles (€5.84M). In January 2024 the top imports of Albacete were Office Machine Parts (€11.3M), Gas Turbines (€10.4M), Cheese (€7.74M), Semiconductor Devices (€5.67M), and Potatoes (€5.62M).

Destinations In January 2024, Albacete exported mostly to France (€25.1M), Italy (€15.9M), Portugal (€13M), Germany (€11.3M), and United States (€10M), and imported mostly from France (€21.4M), Germany (€16.2M), China (€13.4M), United States (€10.8M), and Portugal (€8.69M).

Growth In January 2024, the increase in Albacete's year-by-year exports was explained primarily by an increase in exports to France (€6.58M or 44.1%), Italy (€4.18M or 32.6%), and Germany (€1.48M or 16.3%), and product exports increase in Cars (€6.07M or 2.72k%), Glass Bottles (€4.77M or 411%), and Cheese (€2.32M or 66%). In January 2024, the increase in Albacete's year-by-year imports was explained primarily by an increase in imports from France (€11.7M or 82.2%), Germany (€6.34M or 53.7%), and Turkey (€3.56M or 354%), and product imports increase in Aircraft parts including unmanned craft (€7.43M or 301%), Cheese (€3.31M or 57%), and Carbonates (€2.89M or 9.27k%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (January 2023 - January 2024)€8.06M(7.3%)
IMPORT GROWTH (January 2023 - January 2024)€5.17M(5.14%)

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

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)France€359M
Top Product (2023)Aluminium alloy rectangular plate/sheet/strip,t >0.2m€84.9M

In 2023 the top export destinations of Albacete were France (€359M), Italy (€171M), Portugal (€159M), Germany (€152M), and United Kingdom (€92.8M).

In 2023 the top exports of Albacete were Aluminium alloy rectangular plate/sheet/strip,t >0.2m (€84.9M), Aircraft parts (excl. propellers/rotors, undercarriages) (€84.5M), Grape wines, alcoholic grape must nes (€71.5M), Other Cheeses (€67.9M), and Footwear, outer soles and uppers of... (€64.7M).

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Exports Dynamics

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)
Poland €3.68M (115%)
France €3.6M (16.8%)
United States €3.48M (53.2%)
Rapidly Declining Export Origins (Jan 2023 - Jan 2024)
Cuba -€1.35M (-73.7%)
Switzerland -€1.28M (-69.7%)
Italy -€1.12M (-6.57%)

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Yearly Imports

Color
Depth
Top Origin (2023)France€300M
Top Import (2023)Parts and accessories of office machines,...€123M

In 2023 the top import origins of Albacete were France (€300M), Germany (€257M), China (€120M), Portugal (€103M), and Italy (€90.5M).

In 2023 the top imports of Albacete were Parts and accessories of office machines,... (€123M), Aircraft parts (excl. propellers/rotors, undercarriages) (€98M), Other Cheeses (€58.2M), Parts of turbo-jet or turbo-propeller engines (€55.3M), and Potatoes (Non-seed) (Fresh/Chilled) (€49.3M).

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Imports Dynamics

Fastest Growing Import Origins (Jan 2023 - Jan 2024)
United States €6.73M (167%)
Denmark €2.86M (564%)
South Korea €2.42M (2.07k%)
Rapidly Declining Import Origins (Jan 2023 - Jan 2024)
France -€4.48M (-17.3%)
Germany -€1.97M (-10.9%)
Turkey -€1.62M (-35.4%)

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Economic Complexity

Economic Complexity of Albacete

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Economic Complexity (2023)-0.17

Albacete ranks 22nd 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. Albacete it is in position 22nd 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 Albacete already has a comparative advantage, are led by Other Processed Vegetables (0.16), Legumes (0.16), Raw Iron Bars (0.16), Pickled Foods (0.16), and Frozen Fruits and Nuts (0.16).

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Most Complex Products by PCI

The highest complexity exports of Albacete according to the product complexity index (PCI) are Metalworking Machine Parts (1.5), Forging Machines (1.49), Gaskets (1.38), Other Stone Articles (1.1), Knives (1.06), Trailers and semi-trailers, not mechanically propelled... (0.83), Soil Preparation Machinery (0.7), Roofing Tiles (0.59), Military Weapons (0.57), and Glass Fibers (0.5). 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 Leather of Other Animals (238.91), Animal or Vegetable Fertilizers (120.56), Legume Flours (88.50), Potatoes (86.61), and Gaskets (68.86).

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