Analysis and Studies - Country Analysis
Madrid: a look at the market
April 16th 2024
Madrid is the capital and also the most populous city of Spain. It is the second largest city in the European Union and its monocentric metropolitan area is the second largest in the EU.
The Madrid urban agglomeration has the second largest GDP in the European Union and its influence in politics, education, entertainment, environment, media, fashion, science, culture and the arts all contribute to its status as one of the world’s major global cities. The city is considered the major financial centre and the leading economic hub of the Iberian Peninsula and of Southern Europe. Madrid is the 5th most important leading Centre of Commerce in Europe (after London, Paris, Frankfurt and Amsterdam) and ranks 11th in the world. It is the leading Spanish-speaking city in terms of webpage creation.
In December 2023 Madrid exported €3.78B and imported €7.84B, resulting in a negative trade balance of €4.05B. Between December 2022 and December 2023 the exports of Madrid have decreased by $-1.21B (-24.2%) from €4.99B to €3.78B, while imports decreased by €-581M (-6.9%) from €8.42B to €7.84B.
Trade
In December 2023, the top exports of Madrid were Packaged Medicaments (€517M), Electricity (€191M), Commodities not elsewhere specified (€177M), Refined Petroleum (€162M), and Gas Turbines (€151M). In December 2023 the top imports of Madrid were Packaged Medicaments (€525M), Petroleum Gas (€512M), Telephones (€477M), Planes, Helicopters, and/or Spacecraft (€462M), and Cars (€344M).
Destinations
In December 2023, Madrid exported mostly to France (€585M), Portugal (€421M), Germany (€362M), Italy (€337M), and United Kingdom (€298M), and imported mostly from United States (€1.02B), China (€881M), Germany (€878M), France (€785M), and Italy (€571M).
Growth
In December 2023, the decrease in Madrid's year-by-year exports was explained primarily by an decrease in exports to Portugal (-16.8%), Russia (-83.7%), and United Kingdom (-5.01%), and product exports decrease in Electricity (-37%), Planes, Helicopters, and/or Spacecraft (-62%), and Commodities not elsewhere specified (-13.8%). In December 2023, the decrease in Madrid's year-by-year imports was explained primarily by an decrease in imports from United States (-36%), Switzerland (-64.4%), and Egypt (-96.9%), and product imports decrease in Vaccines, blood, antisera, toxins and cultures (-64.7%), Petroleum Gas (-15.6%), and Computers (-28.6%).
A QUICK LOOK
Top Destination (2023): France €6.83B
Top Product (2023): Human vaccines and similar products €4.43B
FASTEST GROWING EXPORTS DESTINATION (DEC 2022 - DEC 2023)
China €120M (80.4%)
Germany €71.2M (24.5%)
Portugal €57.1M (15.7%)
RAPIDLY DECLINING EXPORT ORIGINS (DEC 2022 - DEC 2023)
Belgium -€1.24B (-95.7%)
Turkey -€66.7M (-52.2%)
United Kingdom -€49.5M (-14.2%)
FASTEST GROWING IMPORT ORIGINS (DEC 2022 - DEC 2023)
Angola €70.4M (74.5K%)
United States €56.6M (5.87%)
Libya €49.4M (237K%)
RAPIDLY DECLINING IMPORT ORIGINS (DEC 2022 - DEC 2023)
Egypt -€216M (-84.5%)
Cameroon -€128M (-98.4%)
Russia -€83.9M (-38.5%)
Fonti:
https://oec.world/en
https://data.worldbank.org/