Asturias | The Observatory of Economic Complexity

Asturias

Province in Principality of Asturias, Autonomous Community in Spain

2023
Economic
Complexity 0.081Rank 7 of 49

Jan 2024
Trade
Exports | Imports €438M | €401M22 of 53 | 19 of 53

Jan 2024
Country
Destination | Origin France | Germany €56.1M | €78.6M

Image 1

Image by Luis Villa del Campo
Link: https://flic.kr/p/4YDqNv

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Asturias. In January 2024 Asturias was the number 20 in total exports and the number 19 in total imports in Spain.

Exports In 2023, Spain's Asturias exported €6.18B, making it the 20th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Asturias were Zinc, not alloyed, unwrought, >99% pure (€880M), Structures and parts of structures, iron... (€377M), Chem wood pulp, soda/sulphate, non-conifer, bleached (€278M), Bituminous coal, not agglomerated (€265M), and Coal except anthracite or bituminous, not... (€254M).

Imports In 2023, Spain's Asturias imported €6.86B, making it the 19th largest importer out of the 52 importers in Spain. In 2023 top imports of Asturias were Bituminous coal, not agglomerated (€1.18B), Zinc ores and concentrates (€747M), Iron ore, concentrate, not iron pyrites,unagglomerate (€317M), Iron ore, concentrate, not iron pyrites,... (€195M), and Iron/Steel Sheets: Very Thick, Hot-Rolled, Wide (€164M).

Economic Complexity In 2023, the highest complexity exports of Asturias according to the product complexity index (PCI) are Flat Flat-Rolled Steel (1.44), Boiler Plants (1.26), Metal-Rolling Mills (1.22), Carboxylic Acids (0.76), Refractory Bricks (0.72), Polycarboxylic Acids (0.68), Railway Track Fixtures (0.67), Refractory Cements (0.61), Iron Railway Products (0.58), and Safety Glass (0.57). 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 Asturias exported €438M and imported €401M, resulting in a positive trade balance of €36.9M. Between January 2023 and January 2024 the exports of Asturias have decreased by $-84.2M (-16.1%) from €522M to €438M, while imports decreased by €-118M (-22.8%) from €519M to €401M.

Trade In January 2024, the top exports of Asturias were Raw Zinc (€72.1M), Iron Structures (€48.4M), Sulfate Chemical Woodpulp (€23.9M), Hot-Rolled Iron (€17.1M), and Semi-Finished Iron (€16.7M). In January 2024 the top imports of Asturias were Coal Briquettes (€72.3M), Zinc Ore (€63.3M), Iron Ore (€38.7M), Hot-Rolled Iron (€34.7M), and Refined Petroleum (€27.6M).

Destinations In January 2024, Asturias exported mostly to France (€56.1M), Germany (€49.2M), Belgium (€39.8M), United Kingdom (€38.9M), and Portugal (€38.6M), and imported mostly from Germany (€78.6M), Portugal (€36.4M), Peru (€28.6M), China (€24.3M), and Canada (€23.4M).

Growth In January 2024, the decrease in Asturias's year-by-year exports was explained primarily by an decrease in exports to France (€-8.97M or -14.5%), Italy (€-8.31M or -14.3%), and Poland (€-5.57M or -25.9%), and product exports decrease in Hot-Rolled Iron Bars (€-12.7M or -53.1%), Coated Flat-Rolled Iron (€-10.1M or -26.5%), and Iron Structures (€-7.22M or -37.4%). In January 2024, the decrease in Asturias's year-by-year imports was explained primarily by an decrease in imports from Bolivia (€-27.5M or -99.7%), Poland (€-26M or -76.7%), and Russia (€-25.2M or -94.6%), and product imports decrease in Iron Ore (€-31.4M or -57.6%), Coke (€-30.4M or -94.5%), and Carboxylic Acids (€-6.15M or -99.8%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (January 2023 - January 2024)€-84.2M(-16.1%)

IMPORT GROWTH (January 2023 - January 2024)€-118M(-22.8%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)Germany€683M

Top Product (2023)Zinc, not alloyed, unwrought, >99% pure€880M

In 2023 the top export destinations of Asturias were Germany (€683M), France (€659M), Italy (€547M), Portugal (€460M), and United Kingdom (€350M).

In 2023 the top exports of Asturias were Zinc, not alloyed, unwrought, >99% pure (€880M), Structures and parts of structures, iron... (€377M), Chem wood pulp, soda/sulphate, non-conifer, bleached (€278M), Bituminous coal, not agglomerated (€265M), and Coal except anthracite or bituminous, not... (€254M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Mexico €21.8M (1.11k%)

United Kingdom €20.7M (114%)

Belgium €20.1M (102%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Turkey -€46.9M (-97.2%)

Finland -€25.3M (-92.7%)

Netherlands -€22.4M (-60.9%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)United States€574M

Top Import (2023)Bituminous coal, not agglomerated€1.18B

In 2023 the top import origins of Asturias were United States (€574M), Australia (€530M), Germany (€471M), Canada (€342M), and China (€289M).

In 2023 the top imports of Asturias were Bituminous coal, not agglomerated (€1.18B), Zinc ores and concentrates (€747M), Iron ore, concentrate, not iron pyrites,unagglomerate (€317M), Iron ore, concentrate, not iron pyrites,... (€195M), and Iron/Steel Sheets: Very Thick, Hot-Rolled, Wide (€164M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Germany €50M (175%)

Portugal €20.5M (129%)

Brazil €15.1M (1.68k%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Colombia -€48.3M (-84.6%)

South Africa -€41.4M (-98.6%)

Mexico -€35.8M (-74.4%)

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Economic Complexity

Economic Complexity of Asturias

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Geomap

Treemap

Economic Complexity (2023)0.081

Asturias ranks 7th 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. Asturias it is in position 7th 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 Asturias already has a comparative advantage, are led by Other Steel Bars (0.14), Asphalt (0.14), Large Flat-Rolled Iron (0.14), Particle Board (0.14), and Sawn Wood (0.14).

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Most Complex Products by PCI

The highest complexity exports of Asturias according to the product complexity index (PCI) are Flat Flat-Rolled Steel (1.44), Boiler Plants (1.26), Metal-Rolling Mills (1.22), Carboxylic Acids (0.76), Refractory Bricks (0.72), Polycarboxylic Acids (0.68), Railway Track Fixtures (0.67), Refractory Cements (0.61), Iron Railway Products (0.58), and Safety Glass (0.57). 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 Zinc Sheets (343.53), Raw Zinc (232.16), Iron Railway Products (152.49), Other Sea Vessels (80.89), and Lead Ore (71.45).

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