Madrid

Province in Community of Madrid, Autonomous Community in Spain

Exports (2019): €31.2B, Rnk 2/52

Top Destination (2019): €4.06B, France

Top Export (2019): €2.35B, Medicaments nes, in dosage

Imports (2019): €64.4B, Rnk 2/52

Top Origin (2019): €8.79B, Germany

Top Import (2019): €4.79B, Medicaments nes, in dosage

Economic Complexity (2019): 0.012, Rnk 9 / 52

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

Exports: In 2019, Spain's Madrid exported €31.2B, making it the 2nd largest exporter out of the 52 exporters in Spain. In 2019 the top exports of Madrid were Medicaments nes, in dosage (€2.35B), Fixed wing aircraft, unladen weight >... (€1.35B), Aircraft parts nes (€1.28B), Commodities not specified according to kind (€1.18B), and Road tractors for semi-trailers (truck tractors) (€975M).

Imports: In 2019, Spain's Madrid imported €64.4B, making it the 2nd largest importer out of the 52 importers in Spain. In 2019 top imports of Madrid were Medicaments nes, in dosage (€4.79B), Telephones for cellular networks or for... (€2.45B), Blood, human or animal, antisera, other... (€1.41B), Medium Diesel Engine Cars (€1.05B), and Automatic data processing machines: portable, weighing... (€971M).

Economic Complexity: In 2019, the highest complexity exports of Madrid according to the product complexity index (PCI) are Iron Fasteners (1.66), Drafting Tools (1.59), Motor-working Tools (1.56), Carboxyimide Compounds (1.55), and Self-Propelled Rail Transport (1.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Yearly Exports

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Value
Depth

Top Destination (2019): France, €4.06B

Top Product (2019): Medicaments nes, in dosage, €2.35B

In 2019 the top export destinations of Madrid were France (€4.06B), Portugal (€3.72B), Germany (€2.88B), United Kingdom (€2.41B), and Italy (€1.93B).

In 2019 the top exports of Madrid were Medicaments nes, in dosage (€2.35B), Fixed wing aircraft, unladen weight >... (€1.35B), Aircraft parts nes (€1.28B), Commodities not specified according to kind (€1.18B), and Road tractors for semi-trailers (truck tractors) (€975M).

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Exports Dynamics

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Fastest Growing Exports Destination (Aug 2019 - Aug 2020)

Rapidly Declining Export Origins (Aug 2019 - Aug 2020)

Yearly Imports

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Value
Depth

Top Origin (2019): Germany, €8.79B

Top Import (2019): Medicaments nes, in dosage, €4.79B

In 2019 the top import origins of Madrid were Germany (€8.79B), China (€7.74B), France (€6.82B), United States (€5.18B), and Italy (€4.61B).

In 2019 the top imports of Madrid were Medicaments nes, in dosage (€4.79B), Telephones for cellular networks or for... (€2.45B), Blood, human or animal, antisera, other... (€1.41B), Medium Diesel Engine Cars (€1.05B), and Automatic data processing machines: portable, weighing... (€971M).

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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 Madrid throughout time.

This section shows forecasts for total exports and imports from Madrid. 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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Madrid ranks 9th out of the 52 provinces 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. Madrid it is in position 9th 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 Madrid already has a comparative advantage, are led by Knit Women's Shirts (0.26), Other Footwear (0.26), Hard Liquor (0.26), Natural Cork Articles (0.25), and Flavored Water (0.25).

Most Complex Products by PCI

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The highest complexity exports of Madrid according to the product complexity index (PCI) are Iron Fasteners (1.66), Drafting Tools (1.59), Motor-working Tools (1.56), Carboxyimide Compounds (1.55), and Self-Propelled Rail Transport (1.53). 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 Electric Locomotives (40.3), Railway Passenger Cars (28.3), Electricity (27.3), Railway Track Fixtures (22.3), and Traffic Signals (17).

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