Flag South Korea / Mexico Flag

Exports Flag β†’ Flag  (2018): $12B, Rnk 10 / 210

Top Product Flag β†’ Flag (2018): $1.38B, Vehicle Parts

Exports Flag β†’ Flag (2018): $3.27B, Rnk 9 / 196

Top Product Flag β†’ Flag (2018): $716M, Crude Petroleum

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

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

South Korea-Mexico: In 2018, South Korea exported $12B to Mexico. The main products exported from South Korea to Mexico were Vehicle Parts ($1.38B), LCDs ($783M), and Coated Flat-Rolled Iron ($757M). During the last 23 years the exports of South Korea to Mexico have increased at an annualized rate of 12.2%, from $846M in 1995 to $12B in 2018. In 2005, South Korea exported services to Mexico worth $311M, with Transportation ($220M), Services not allocated ($66.6M), and Other business services ($14.8M) being the largest in terms of value.

Mexico-South Korea: In 2018, Mexico exported $3.27B to South Korea. The main products exported from Mexico to South Korea were Crude Petroleum ($716M), Lead Ore ($313M), and Zinc Ore ($259M). During the last 23 years the exports of Mexico to South Korea have increased at an annualized rate of 10.4%, from $335M in 1995 to $3.27B in 2018.

Comparison: In 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, Mexico ranked 21 in the Economic Complexity Index (ECI 1.13), and 11 in total exports ($441B). N/A

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $12B to Mexico. The main products exported from South Korea to Mexico were Vehicle Parts ($1.38B), LCDs ($783M), and Coated Flat-Rolled Iron ($757M). During the last 23 years the exports of South Korea to Mexico have increased at an annualized rate of 12.2%, from $846M in 1995 to $12B in 2018.

In 2018, Mexico exported $3.27B to South Korea. The main products exported from Mexico to South Korea were Crude Petroleum ($716M), Lead Ore ($313M), and Zinc Ore ($259M). During the last 23 years the exports of Mexico to South Korea have increased at an annualized rate of 10.4%, from $335M in 1995 to $3.27B in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Mexico
Top Destination
: United States, $340B

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

In 2018, countries that imported more from South Korea than Mexico were China ($160B), Vietnam ($48.6B), and Hong Kong ($44.5B).

In 2018, countries that imported more from Mexico than South Korea were United States ($340B), Canada ($18.3B), and Colombia ($3.77B).

Comparative Advantage South Korea - Mexico

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Depth

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

During 2018, South Korea had a large net trade with Mexico in the exports of Machines ($4.48B), Metals ($2.43B), and Transportation ($1.9B).

During 2018, Mexico had a large net trade with South Korea in the exports of Mineral Products ($1.74B), Machines ($521M), and Transportation ($380M).

Tariff Section

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

In 2018, the products from South Korea that paid the highest import tariffs to enter Mexico were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

In 2017, the products from Mexico that paid the highest import tariffs to enter South Korea 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 South Korea and Mexico are:
136: Most Favoured Nation duty rate treatement
335: Preferential tariff selected (GSTP) Global System of Trade Preferences among Developing Countries
340: Preferential tariff under the Trade Negotiations among Developing Countries (TNDC) in WTO

Trade Forecasts

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This section shows a forecast for total trade between South Korea 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.

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Bilateral Service Trade

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In 2005, South Korea exported services to Mexico worth $311M, with Transportation ($220M), Services not allocated ($66.6M), and Other business services ($14.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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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 South Korea has comparative advantage over Mexico. Similarly, the more red a dot/product is, the more Mexico has comparative advantage over South Korea.