Galicia

Autonomous Community in Spain

Economic Complexity (2019): -0.47, Rnk 15 / 18

Overview: This page contains the latest international trade data for Galicia, including export and import data.

Economic Complexity: In 2019, the highest complexity exports of Galicia according to the product complexity index (PCI) are Motor-working Tools (1.56), Transmissions (1.49), Other Paper Machinery (1.38), Other Heating Machinery (1.36), and Steel Wire (1.28). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Exports Dynamics

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Fastest Growing Exports Destination (Aug 2019 - Aug 2020)

Rapidly Declining Export Origins (Aug 2019 - Aug 2020)

Imports Dynamics

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Fastest Growing Import Origins (Aug 2019 - Aug 2020)

Rapidly Declining Import Origins (Aug 2019 - Aug 2020)

Comparison in Time

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Flow
Value

This section shows differences between total trade from Galicia throughout time.

This section shows forecasts for total exports and imports from Galicia. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.

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Economic Complexity

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Economic Complexity of Spain

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Galicia ranks 15th out of the 18 autonomous communities in Spain according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Galicia it is in position 15th considering its ECI in the last year.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Galicia already has a comparative advantage, are led by Knit Men's Undergarments (0.28), Non-Knit Men's Undergarments (0.28), Knit Women's Undergarments (0.28), Packing Bags (0.27), and Knit Socks and Hosiery (0.26).

Most Complex Products by PCI

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The highest complexity exports of Galicia according to the product complexity index (PCI) are Motor-working Tools (1.56), Transmissions (1.49), Other Paper Machinery (1.38), Other Heating Machinery (1.36), and Steel Wire (1.28). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Slate (249), Fishing Ships (81.9), Molluscs (37.8), Quartz (32.5), and Carbon-based Electronics (30.5).

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 Galicia 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.

Relatedness Space

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This network shows the products most related to the production structure of  Galicia. These are products that tend to be co-exported with the products that Galicia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth
Filter

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.