Orense | The Observatory of Economic Complexity

Orense

Province in Galicia, Autonomous Community in Spain

2023
Economic
Complexity -0.42Rank 41 of 49

Jan 2024
Trade
Exports | Imports €105M | €76.8M41 of 53 | 43 of 53

Jan 2024
Country
Destination | Origin Portugal | Portugal €25.9M | €15.1M

Image 1

Image by Sergei Gussev
Link: https://flic.kr/p/Cy91TH

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Orense. In January 2024 Orense was the number 40 in total exports and the number 42 in total imports in Spain.

Exports In 2023, Spain's Orense exported €1.23B, making it the 40th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Orense were Worked slate, articles of slate or... (€245M), Transmission shafts and cranks, cam and... (€90M), Co-axial cable and other co-axial electric... (€45.2M), Medium density fibreboard (MDF), of a... (€38.4M), and Sunflower-seed or safflower oil, crude (€34.7M).

Imports In 2023, Spain's Orense imported €866M, making it the 42nd largest importer out of the 52 importers in Spain. In 2023 top imports of Orense were Sunflower-seed or safflower oil, crude (€138M), Bar/rod of silico-manganese steel not in... (€25.7M), Extra virgin olive oil (€19.5M), Bar/rod, alloy steel nes,nfw hot rolled/drawn/extrude (€18.2M), and Furniture, wooden, nes (€12.5M).

Economic Complexity In 2023, the highest complexity exports of Orense according to the product complexity index (PCI) are Flat-Rolled Stainless Steel (1.61), Transmissions (1.51), Vehicle Bodies (including cabs) for the... (0.7), High-voltage Protection Equipment (0.65), Insulating Glass (0.51), Glass Fibers (0.5), Pigs (0.42), Artificial Graphite (0.38), Iron Structures (0.36), and Wood Crates (0.31). 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 Orense exported €105M and imported €76.8M, resulting in a positive trade balance of €28.7M. Between January 2023 and January 2024 the exports of Orense have increased by $2.58M (2.51%) from €103M to €105M, while imports increased by €6.5M (9.24%) from €70.3M to €76.8M.

Trade In January 2024, the top exports of Orense were Worked Slate (€20.3M), Transmissions (€9.53M), Motor vehicles; parts and accessories (8701... (€6.94M), Pure Olive Oil (€6.21M), and Seed Oils (€5.29M). In January 2024 the top imports of Orense were Seed Oils (€15.3M), Pure Olive Oil (€6.05M), Other Steel Bars (€3.97M), Hot-Rolled Iron (€2.45M), and Knit Sweaters (€2.05M).

Destinations In January 2024, Orense exported mostly to Portugal (€25.9M), France (€20.1M), United Kingdom (€12.1M), Germany (€8.11M), and Italy (€3.32M), and imported mostly from Portugal (€15.1M), Ukraine (€13.8M), China (€10.9M), Italy (€6.63M), and France (€6.23M).

Growth In January 2024, the increase in Orense's year-by-year exports was explained primarily by an increase in exports to France (€2.43M or 11.8%), Germany (€1.7M or 23.2%), and Portugal (€1.63M or 8.01%), and product exports increase in Iron Structures (€4.84M or 3.01k%), Transmissions (€2.47M or 37.4%), and Worked Slate (€2.21M or 15.2%). In January 2024, the increase in Orense's year-by-year imports was explained primarily by an increase in imports from Bulgaria (€7.4M or 39.3k%), Poland (€2.18M or 231%), and Italy (€1.93M or 39.7%), and product imports increase in Motor vehicles; parts and accessories (8701... (€1.05M or 113%), Other Steel Bars (€911k or 34.9%), and Other Furniture (€686k or 55.3%).

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)€2.58M(2.51%)

IMPORT GROWTH (January 2023 - January 2024)€6.5M(9.24%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)Portugal€301M

Top Product (2023)Worked slate, articles of slate or...€245M

In 2023 the top export destinations of Orense were Portugal (€301M), France (€277M), United Kingdom (€107M), Germany (€83.2M), and Mexico (€72.9M).

In 2023 the top exports of Orense were Worked slate, articles of slate or... (€245M), Transmission shafts and cranks, cam and... (€90M), Co-axial cable and other co-axial electric... (€45.2M), Medium density fibreboard (MDF), of a... (€38.4M), and Sunflower-seed or safflower oil, crude (€34.7M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

United Kingdom €4.07M (50.4%)

Portugal €3.9M (17.7%)

South Korea €1.21M (173%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

France -€2.87M (-12.5%)

Mexico -€1.69M (-34.4%)

Hungary -€1.21M (-97.8%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Portugal€163M

Top Import (2023)Sunflower-seed or safflower oil, crude€138M

In 2023 the top import origins of Orense were Portugal (€163M), China (€104M), Italy (€89M), Netherlands (€79.3M), and Germany (€77.3M).

In 2023 the top imports of Orense were Sunflower-seed or safflower oil, crude (€138M), Bar/rod of silico-manganese steel not in... (€25.7M), Extra virgin olive oil (€19.5M), Bar/rod, alloy steel nes,nfw hot rolled/drawn/extrude (€18.2M), and Furniture, wooden, nes (€12.5M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Ukraine €13.8M (262k%)

South Korea €2.35M (819%)

Portugal €2.26M (17.6%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Bulgaria -€7.39M (-99.6%)

Moldova -€3.69M (-100%)

Poland -€1.08M (-34.4%)

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Economic Complexity

Economic Complexity of Orense

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Geomap

Treemap

Economic Complexity (2023)-0.42

Orense ranks 41st 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. Orense it is in position 41st 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 Orense already has a comparative advantage, are led by Knit Men's Suits (0.18), Knit Men's Undergarments (0.17), Knit Women's Undergarments (0.17), Non-Knit Babies' Garments (0.17), and Non-Knit Women's Undergarments (0.17).

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Most Complex Products by PCI

The highest complexity exports of Orense according to the product complexity index (PCI) are Flat-Rolled Stainless Steel (1.61), Transmissions (1.51), Vehicle Bodies (including cabs) for the... (0.7), High-voltage Protection Equipment (0.65), Insulating Glass (0.51), Glass Fibers (0.5), Pigs (0.42), Artificial Graphite (0.38), Iron Structures (0.36), and Wood Crates (0.31). 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 Worked Slate (5842.11), Pigs (132.32), Pure Olive Oil (96.00), Wood Fiberboard (54.69), and Seed Oils (50.27).

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