Valencian Community | The Observatory of Economic Complexity

Valencian Community

Autonomous Community in Spain

2023
Economic
Complexity -0.22Rank 13 of 18

Jan 2024
Trade
Exports | Imports €3.2B | €2.65B4 of 19 | 4 of 19

Jan 2024
Country
Destination | Origin France | China €429M | €400M

Image 1

Image by Jose A.
Link: https://flic.kr/p/2hi4zrk

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Valencian Community. In January 2024 Valencian Community was the number 4 in total exports and the number 4 in total imports in Spain.

Exports In 2023, Spain's Valencian Community exported €39.6B, making it the 4th largest exporter out of the 18 exporters in Spain. In 2023 the top exports of Valencian Community were Spark-ignition chargeable Cars (€2.45B), Ceramic tiles; flags and paving, hearth... (€2.34B), Static converters, nes (€1.1B), Oranges (Fresh/Dried) (€900M), and Light petroleum distillates nes (€860M).

Imports In 2023, Spain's Valencian Community imported €39.3B, making it the 4th largest importer out of the 18 importers in Spain. In 2023 top imports of Valencian Community were Petroleum oils, oils from bituminous minerals,... (€2.3B), Spark-ignition non chargeable Cars (€1.71B), Photosensitive devices; assembled photovoltaic modules/panels (€638M), Light petroleum distillates nes (€546M), and Transmissions for motor vehicles (€508M).

Economic Complexity In 2023, the highest complexity exports of Valencian Community according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.19), Iron Springs (0.83), Prepared Pigments (0.77), Roofing Tiles (0.59), Plastic Wash Basins (0.36), Vegetable or Animal Dyes (0.32), Mill Machinery (0.17), Glass Bricks (0.085), Ice Cream (-0.27), and Other Locomotives (-0.35). 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 Valencian Community exported €3.2B and imported €2.65B, resulting in a positive trade balance of €549M. Between January 2023 and January 2024 the exports of Valencian Community have decreased by $-219M (-6.41%) from €3.42B to €3.2B, while imports decreased by €-261M (-8.98%) from €2.91B to €2.65B.

Trade In January 2024, the top exports of Valencian Community were Cars (€392M), Citrus (€370M), Unglazed Ceramics (€248M), Refined Petroleum (€151M), and Delivery Trucks (€72.1M). In January 2024 the top imports of Valencian Community were Cars (€225M), Crude Petroleum (€111M), Motor vehicles; parts and accessories (8701... (€111M), Refined Petroleum (€70.9M), and Hot-Rolled Iron (€44.5M).

Destinations In January 2024, Valencian Community exported mostly to France (€429M), Germany (€376M), Italy (€289M), United States (€255M), and United Kingdom (€236M), and imported mostly from China (€400M), Italy (€241M), France (€218M), Germany (€217M), and United States (€152M).

Growth In January 2024, the decrease in Valencian Community's year-by-year exports was explained primarily by an decrease in exports to Algeria (€-31.1M or -88.3%), Argentina (€-25M or -85.2%), and Malta (€-18.9M or -83.9%), and product exports decrease in Unglazed Ceramics (€-30.3M or -10.2%), Other Fruits (€-13M or -48.8%), and Vegetable Saps (€-9.71M or -40.8%). In January 2024, the decrease in Valencian Community's year-by-year imports was explained primarily by an decrease in imports from United States (€-202M or -52.9%), Turkey (€-92.2M or -44%), and Nigeria (€-70.9M or -94.9%), and product imports decrease in Petroleum Gas (€-203M or -100%), Coated Flat-Rolled Iron (€-55M or -66.6%), and Crude Petroleum (€-34.6M or -16.8%).

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)€-219M(-6.41%)

IMPORT GROWTH (January 2023 - January 2024)€-261M(-8.98%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)France€4.91B

Top Product (2023)Spark-ignition chargeable Cars€2.45B

In 2023 the top export destinations of Valencian Community were France (€4.91B), Germany (€4.18B), United States (€3.37B), Italy (€3.36B), and United Kingdom (€2.65B).

In 2023 the top exports of Valencian Community were Spark-ignition chargeable Cars (€2.45B), Ceramic tiles; flags and paving, hearth... (€2.34B), Static converters, nes (€1.1B), Oranges (Fresh/Dried) (€900M), and Light petroleum distillates nes (€860M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Malta €62.9M (1.74k%)

Belgium €47M (49.4%)

United States €36.1M (16.5%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Germany -€121M (-24.4%)

Italy -€37.7M (-11.5%)

France -€37.1M (-7.97%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)China€5.51B

Top Import (2023)Petroleum oils, oils from bituminous minerals,...€2.3B

In 2023 the top import origins of Valencian Community were China (€5.51B), Italy (€2.73B), France (€2.7B), Germany (€2.62B), and United States (€1.79B).

In 2023 the top imports of Valencian Community were Petroleum oils, oils from bituminous minerals,... (€2.3B), Spark-ignition non chargeable Cars (€1.71B), Photosensitive devices; assembled photovoltaic modules/panels (€638M), Light petroleum distillates nes (€546M), and Transmissions for motor vehicles (€508M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Italy €56.2M (30.4%)

United Kingdom €35.9M (59.9%)

Turkey €32.5M (27.8%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

China -€79.6M (-16.6%)

Kazakhstan -€53.8M (-42.7%)

Indonesia -€35.1M (-76.8%)

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Economic Complexity

Economic Complexity of Valencian Community

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Geomap

Treemap

Economic Complexity (2023)-0.22

Valencian Community ranks 13th out of the 18 autonomous communities 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. Valencian Community it is in position 13th 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 Valencian Community already has a comparative advantage, are led by Legumes (0.37), Raw Iron Bars (0.37), Wheat Flours (0.36), Packing Bags (0.36), and Frozen Fruits and Nuts (0.36).

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Most Complex Products by PCI

The highest complexity exports of Valencian Community according to the product complexity index (PCI) are Self-Propelled Rail Transport (1.19), Iron Springs (0.83), Prepared Pigments (0.77), Roofing Tiles (0.59), Plastic Wash Basins (0.36), Vegetable or Animal Dyes (0.32), Mill Machinery (0.17), Glass Bricks (0.085), Ice Cream (-0.27), and Other Locomotives (-0.35). 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 (94.69), Unglazed Ceramics (90.97), Prepared Pigments (89.30), Citrus (84.27), and Leather of Other Animals (37.51).

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