Soria | The Observatory of Economic Complexity

Soria

Province in Castile and León, Autonomous Community in Spain

2023
Economic
Complexity 0.12Rank 5 of 49

Jan 2024
Trade
Exports | Imports €42.7M | €37.2M48 of 53 | 48 of 53

Jan 2024
Country
Destination | Origin Germany | Germany €9.96M | €10.1M

Image 1

Image by Miguel Ángel García.
Link: https://flic.kr/p/A1m7KT

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Soria. In January 2024 Soria was the number 48 in total exports and the number 47 in total imports in Spain.

Exports In 2023, Spain's Soria exported €573M, making it the 48th largest exporter out of the 52 exporters in Spain. In 2023 the top exports of Soria were Paper and paperboard: self-adhesive, in rolls... (€102M), Locks of a kind used for... (€84.6M), Hormones nes, except contraceptives, in dosage (€69.4M), Rear-view mirrors for vehicles (€45.7M), and Iron/Steel Rods: Hot-Rolled, Rectangular Shape (€40.7M).

Imports In 2023, Spain's Soria imported €439M, making it the 47th largest importer out of the 52 importers in Spain. In 2023 top imports of Soria were Transmissions for motor vehicles (€36.3M), Parts of electrical machines and apparatus... (€34M), Hormones nes, except contraceptives, in dosage (€33.1M), Paper, glassine, glazed transparent or translucent... (€22.8M), and Unsaturated acyclic hydrocarbons nes (€19.8M).

Economic Complexity In 2023, the highest complexity exports of Soria according to the product complexity index (PCI) are Iron Pipe Fittings (1.21), Self-adhesive Plastics (1.17), Other Paper Machinery (1.12), Glues (1.11), Glass Mirrors (0.99), Motor vehicles; parts and accessories (8701... (0.97), Liquid Dispersing Machines (0.9), Traffic Signals (0.87), Rubber Sheets (0.86), and Hormones (0.83). 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 Soria exported €42.7M and imported €37.2M, resulting in a positive trade balance of €5.47M. Between January 2023 and January 2024 the exports of Soria have decreased by $-12.7M (-22.9%) from €55.4M to €42.7M, while imports increased by €6.51M (21.2%) from €30.7M to €37.2M.

Trade In January 2024, the top exports of Soria were Cellulose Fibers Paper (€8.34M), Padlocks (€7.46M), Packaged Medicaments (€4.63M), Other Rubber Products (€3.92M), and Raw Iron Bars (€3.19M). In January 2024 the top imports of Soria were Packaged Medicaments (€4.9M), Navigation Equipment (€3.05M), Fish Fillets (€3.03M), Electrical Transformers (€2.87M), and Semi-Finished Iron (€2.74M).

Destinations In January 2024, Soria exported mostly to Germany (€9.96M), France (€7.45M), Italy (€4.46M), Portugal (€4M), and Belgium (€3.58M), and imported mostly from Germany (€10.1M), France (€5.49M), Belgium (€5.34M), Lithuania (€3.14M), and Ukraine (€2.74M).

Growth In January 2024, the decrease in Soria's year-by-year exports was explained primarily by an decrease in exports to France (€-1.25M or -14.4%), Belgium (€-811k or -19.5%), and Mexico (€-665k or -67.6%), and product exports decrease in Packaged Medicaments (€-2.84M or -43.9%), Padlocks (€-333k or -5.59%), and Kaolin Coated Paper (€-278k or -48.3%). In January 2024, the increase in Soria's year-by-year imports was explained primarily by an increase in imports from Germany (€1.44M or 21.8%), Norway (€1.08M or 5.05k%), and Italy (€808k or 57.7%), and product imports increase in Other Electrical Machinery (€2.58M or 2.04k%), Packaged Medicaments (€1.71M or 186%), and Electrical Transformers (€1.24M or 188%).

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)€-12.7M(-22.9%)

IMPORT GROWTH (January 2023 - January 2024)€6.51M(21.2%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)Germany€110M

Top Product (2023)Paper and paperboard: self-adhesive, in rolls...€102M

In 2023 the top export destinations of Soria were Germany (€110M), France (€77.3M), Belgium (€76.6M), Italy (€70.4M), and Portugal (€48.6M).

In 2023 the top exports of Soria were Paper and paperboard: self-adhesive, in rolls... (€102M), Locks of a kind used for... (€84.6M), Hormones nes, except contraceptives, in dosage (€69.4M), Rear-view mirrors for vehicles (€45.7M), and Iron/Steel Rods: Hot-Rolled, Rectangular Shape (€40.7M).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Germany €1.33M (15.4%)

Poland €711k (47.8%)

Ireland €301k (68.3%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Italy -€13.7M (-75.4%)

Slovakia -€1.05M (-41.8%)

Netherlands -€700k (-54.7%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Germany€93.8M

Top Import (2023)Transmissions for motor vehicles€36.3M

In 2023 the top import origins of Soria were Germany (€93.8M), France (€87.5M), Belgium (€59.4M), Portugal (€20.8M), and Italy (€20.3M).

In 2023 the top imports of Soria were Transmissions for motor vehicles (€36.3M), Parts of electrical machines and apparatus... (€34M), Hormones nes, except contraceptives, in dosage (€33.1M), Paper, glassine, glazed transparent or translucent... (€22.8M), and Unsaturated acyclic hydrocarbons nes (€19.8M).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Lithuania €3.14M (3.32M%)

Ukraine €2.69M (4.69k%)

Belgium €2.19M (69.7%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Italy -€1.24M (-56.1%)

Norway -€1.1M (-99.8%)

Czechia -€651k (-54%)

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Economic Complexity

Economic Complexity of Soria

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Geomap

Treemap

Economic Complexity (2023)0.12

Soria ranks 5th 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. Soria it is in position 5th 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 Soria already has a comparative advantage, are led by Pig Meat (0.076), Wood Fiberboard (0.075), Bovine Meat (0.075), Wood Crates (0.075), and Jams (0.075).

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Most Complex Products by PCI

The highest complexity exports of Soria according to the product complexity index (PCI) are Iron Pipe Fittings (1.21), Self-adhesive Plastics (1.17), Other Paper Machinery (1.12), Glues (1.11), Glass Mirrors (0.99), Motor vehicles; parts and accessories (8701... (0.97), Liquid Dispersing Machines (0.9), Traffic Signals (0.87), Rubber Sheets (0.86), and Hormones (0.83). 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 Padlocks (226.29), Glass Mirrors (221.83), Cellulose Fibers Paper (175.49), Raw Lead (102.75), and Preserved Meat (88.26).

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