Cuenca | The Observatory of Economic Complexity

Cuenca

Province in Castilla-La Mancha, Autonomous Community in Spain

2023
Economic
Complexity -0.47Rank 44 of 49

Jan 2024
Trade
Exports | Imports €63.5M | €45.5M44 of 53 | 46 of 53

Jan 2024
Country
Destination | Origin France | Portugal €13.6M | €12.9M

Image 1

Image by Coral
Link: https://flic.kr/p/eFJeMf

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Cuenca. In January 2024 Cuenca was the number 42 in total exports and the number 48 in total imports in Spain.

Exports In 2023, Spain's Cuenca exported €843M, making it the 42nd largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Cuenca were Electrical relays for < 60 volts (€209M), Other Frozen Pork Cuts (€127M), Garlic (Fresh/Chilled) (€62M), Juice: grape, of a Brix value... (€54.7M), and Frozen Pork Organs (€40.9M).

Imports In 2023, Spain's Cuenca imported €392M, making it the 48th largest importer out of the 52 importers in Spain. In 2023 top imports of Cuenca were Electronic integrated circuits: n.e.c. in heading... (€86.5M), Photosensitive devices; assembled photovoltaic modules/panels (€41.8M), Inductors, electric (€13.7M), Onions & Shallots (Fresh/Chilled) (€11.4M), and Transistors, except photosensitive, > 1 watt (€8.92M).

Economic Complexity In 2023, the highest complexity exports of Cuenca according to the product complexity index (PCI) are Trailers and semi-trailers, not mechanically propelled... (0.83), Prepared Pigments (0.77), Pig Meat (0.66), Low-voltage Protection Equipment (0.62), Animal Fat (0.44), Aluminium Structures (0.4), Processed Mushrooms (0.39), Plastic Wash Basins (0.36), Iron Structures (0.36), and Preserved Meat (0.26). 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 Cuenca exported €63.5M and imported €45.5M, resulting in a positive trade balance of €17.9M. Between January 2023 and January 2024 the exports of Cuenca have decreased by $-11.3M (-15.2%) from €74.8M to €63.5M, while imports increased by €10.7M (30.9%) from €34.8M to €45.5M.

Trade In January 2024, the top exports of Cuenca were Pig Meat (€16.2M), Low-voltage Protection Equipment (€12.7M), Onions (€7.31M), Fruit Juice (€5.6M), and Wine (€5.51M). In January 2024 the top imports of Cuenca were Semiconductor Devices (€12.4M), Integrated Circuits (€8.28M), Onions (€3.1M), Dried Legumes (€2.21M), and Other Vegetables (€2.02M).

Destinations In January 2024, Cuenca exported mostly to France (€13.6M), Italy (€6.88M), Germany (€6.84M), China (€5.59M), and Portugal (€4.62M), and imported mostly from Portugal (€12.9M), Germany (€6.89M), China (€3.79M), Netherlands (€2.66M), and Italy (€2.48M).

Growth In January 2024, the decrease in Cuenca's year-by-year exports was explained primarily by an decrease in exports to Morocco (€-1.07M or -32%), South Korea (€-967k or -30.8%), and China (€-686k or -8.72%), and product exports decrease in Wine (€-2.44M or -37.1%), Fruit Juice (€-1.3M or -23.8%), and Motor vehicles; parts and accessories (8701... (€-912k or -57.3%). In January 2024, the increase in Cuenca's year-by-year imports was explained primarily by an increase in imports from China (€5.28M or 104%), Germany (€1.27M or 18.4%), and France (€826k or 90.7%), and product imports increase in Semiconductor Devices (€6.82M or 2.39k%), Telephones (€1.6M or 15.3k%), and Electrical Transformers (€996k or 138%).

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)€-11.3M(-15.2%)

IMPORT GROWTH (January 2023 - January 2024)€10.7M(30.9%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)France€232M

Top Product (2023)Electrical relays for < 60 volts€209M

In 2023 the top export destinations of Cuenca were France (€232M), Italy (€110M), Germany (€69.5M), China (€66.1M), and Portugal (€60.1M).

In 2023 the top exports of Cuenca were Electrical relays for < 60 volts (€209M), Other Frozen Pork Cuts (€127M), Garlic (Fresh/Chilled) (€62M), Juice: grape, of a Brix value... (€54.7M), and Frozen Pork Organs (€40.9M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Germany €2.11M (44.7%)

United Kingdom €835k (50.8%)

Morocco €672k (29.4%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

France -€8.87M (-39.4%)

Japan -€3.55M (-48.1%)

Italy -€2.23M (-24.4%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Germany€99.6M

Top Import (2023)Electronic integrated circuits: n.e.c. in heading...€86.5M

In 2023 the top import origins of Cuenca were Germany (€99.6M), China (€65.7M), Portugal (€34.8M), France (€28.2M), and Italy (€20.5M).

In 2023 the top imports of Cuenca were Electronic integrated circuits: n.e.c. in heading... (€86.5M), Photosensitive devices; assembled photovoltaic modules/panels (€41.8M), Inductors, electric (€13.7M), Onions & Shallots (Fresh/Chilled) (€11.4M), and Transistors, except photosensitive, > 1 watt (€8.92M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Portugal €10.8M (494%)

Hungary €2.13M (833%)

Netherlands €1.55M (139%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

China -€6.57M (-63.4%)

Germany -€1.27M (-15.5%)

Mexico -€686k (-72.2%)

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Economic Complexity

Economic Complexity of Cuenca

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Geomap

Treemap

Economic Complexity (2023)-0.47

Cuenca ranks 44th 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. Cuenca it is in position 44th 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 Cuenca already has a comparative advantage, are led by Honey (0.088), Other Processed Vegetables (0.088), Other Oily Seeds (0.088), Other Fruits (0.085), and Animal Meal and Pellets (0.085).

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Most Complex Products by PCI

The highest complexity exports of Cuenca according to the product complexity index (PCI) are Trailers and semi-trailers, not mechanically propelled... (0.83), Prepared Pigments (0.77), Pig Meat (0.66), Low-voltage Protection Equipment (0.62), Animal Fat (0.44), Aluminium Structures (0.4), Processed Mushrooms (0.39), Plastic Wash Basins (0.36), Iron Structures (0.36), and Preserved Meat (0.26). 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 Onions (235.27), Animal Fat (154.52), Pig Meat (129.62), Edible Offal (112.15), and Pure Olive Oil (89.00).

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