Flag Barbados / Mexico Flag

Exports FlagFlag  (2018): $618k, Rnk 48 / 124

Top Product FlagFlag (2018): $315k, Electrical Resistors

Exports FlagFlag (2018): $22.2M, Rnk 89 / 196

Top Product FlagFlag (2018): $1.8M, Refrigerators

Economic Complexity of Flag (2018): ECI 1.13, Rnk 21 / 137

GDP Flag (2018): $5.15B, CURRENT US$
Rnk 156 / 196

GDP GROWTH Flag (2008-2018): 7.53%, CURRENT US$
Rnk 150 / 196

GDP Flag (2018): $1.22T, CURRENT US$
Rnk 15 / 196

GDP GROWTH Flag (2008-2018): 9.97%, CURRENT US$
Rnk 144 / 196

GDP PC Flag (2018): $17,949, CURRENT US$
Rnk 51 / 196

GDP PC GROWTH Flag (2008-2018): 5.01%, CURRENT US$
Rnk 130 / 196

GDP PC Flag (2018): $9,673, CURRENT US$
Rnk 79 / 196

GDP PC GROWTH Flag (2008-2018): -3.43%, CURRENT US$
Rnk 159 / 196

Barbados-Mexico: In 2018, Barbados exported $618k to Mexico. The main products exported from Barbados to Mexico were Electrical Resistors ($315k), Other Rubber Products ($82.2k), and Large Construction Vehicles ($80k). During the last 23 years the exports of Barbados to Mexico have increased at an annualized rate of 6.58%, from $143k in 1995 to $618k in 2018.

Mexico-Barbados: In 2018, Mexico exported $22.2M to Barbados. The main products exported from Mexico to Barbados were Refrigerators ($1.8M), Molasses ($1.51M), and Cellulose Fibers Paper ($1.49M). During the last 23 years the exports of Mexico to Barbados have increased at an annualized rate of 23%, from $189k in 1995 to $22.2M in 2018.

Comparison: In 2018, Barbados ranked 165 in total exports ($414M), and does not have data regarding Economic Complexity Index. That same year, Mexico ranked 21 in the Economic Complexity Index (ECI 1.13), and 11 in total exports ($441B). In terms of GDP Per Capita, Barbados was ranked 51 with a GDP Per Capita of $17,949, and Mexico was ranked 79 with a GDP Per Capita of $9,673.

Bilateral Trade by Products

#permalink to section
Depth
Value

In 2018, Barbados exported $618k to Mexico. The main products exported from Barbados to Mexico were Electrical Resistors ($315k), Other Rubber Products ($82.2k), and Large Construction Vehicles ($80k). During the last 23 years the exports of Barbados to Mexico have increased at an annualized rate of 6.58%, from $143k in 1995 to $618k in 2018.

In 2018, Mexico exported $22.2M to Barbados. The main products exported from Mexico to Barbados were Refrigerators ($1.8M), Molasses ($1.51M), and Cellulose Fibers Paper ($1.49M). During the last 23 years the exports of Mexico to Barbados have increased at an annualized rate of 23%, from $189k in 1995 to $22.2M in 2018.

Market Competitiveness

#permalink to section
Measure

Barbados
Top Destination
: United States, $102M

Mexico
Top Destination
: United States, $340B

This map shows whether countries import more from Barbados or Mexico. Each country is colored based on the difference in imports they receive from Barbados and Mexico or the difference in the growth in imports.

In 2018, countries that imported more from Barbados than Mexico were Saint Lucia ($20.8M), Antigua and Barbuda ($20.1M), and Saint Vincent and the Grenadines ($12.5M).

In 2018, countries that imported more from Mexico than Barbados were United States ($340B), Canada ($18.3B), and Germany ($7.83B).

Comparative Advantage Barbados - Mexico

#permalink to section
Depth

This chart compares trade between Barbados and Mexico by product, considering products traded by both, Barbados and Mexico.

During 2018, Barbados had a large net trade with Mexico in the exports of Machines ($451k), Plastics and Rubbers ($82.2k), and Instruments ($64.3k).

During 2018, Mexico had a large net trade with Barbados in the exports of Machines ($6.02M), Chemical Products ($4.09M), and Foodstuffs ($3.4M).

Tariff Section

#permalink to section

This sections shows import tariffs for products traded between Barbados and Mexico (using the HS6 product classification and the last year reported).

In 2013, the products from Barbados that paid the highest import tariffs to enter Mexico were Undenatured ethyl alcohol > 80% by volume (845%) and Homogenized or reconstituted tobacco (415%).

In 2017, the products from Mexico that paid the highest import tariffs to enter Barbados were Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, fresh or chilled (75%) and Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, frozen (75%).

Explore Tariff Data

*The tariffs present between Barbados and Mexico are:
136: Most Favoured Nation duty rate treatement

Trade Forecasts

#permalink to section

This section shows a forecast for total trade between Barbados and Mexico. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Barbados has comparative advantage over Mexico. Similarly, the more red a dot/product is, the more Mexico has comparative advantage over Barbados.