Mexico (MEX) and Singapore (SGP) Trade | The Observatory of Economic Complexity

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Mexico-Singapore Trade: In 2023, Mexico exported $2.35B to Singapore. The main products that Mexico exported to Singapore were Medical Instruments ($320M), Broadcasting Equipment ($285M), and Gas Turbines ($157M). Over the past 5 years the exports of Mexico to Singapore have decreased at an annualized rate of 0.66%, from $2.43B in 2018 to $2.35B in 2023.

In 2023, Mexico did not export any services to Singapore.

Singapore-Mexico Trade: In 2023, Singapore exported $2.17B to Mexico. The main products that Singapore exported to Mexico were Semiconductor Devices ($515M), Refined Petroleum ($438M), and Integrated Circuits ($311M). Over the past 5 years the exports of Singapore to Mexico have increased at an annualized rate of 5.09%, from $1.69B in 2018 to $2.17B in 2023.

In 2023, Singapore did not export any services to Mexico.

Comparison: In 2023, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mexico exported $2.35B to Singapore. The main products exported from Mexico to Singapore were Medical Instruments ($320M), Broadcasting Equipment ($285M), and Gas Turbines ($157M). During the last 5 years the exports of Mexico to Singapore have decreased at an annualized rate of 0.66%, from $2.43B in 2018 to $2.35B in 2023.

In 2018, Singapore exported $2.17B to Mexico. The main products exported from Singapore to Mexico were Semiconductor Devices ($515M), Refined Petroleum ($438M), and Integrated Circuits ($311M). During the last 5 years the exports of Singapore to Mexico have increased at an annualized rate of 5.09%, from $1.69B in 2023 to $2.17B in 2018.

Exports from Mexico () to Singapore () (2023)

Exports from Singapore () to Mexico () (2023)

Latest Data

Trade between Mexico () and Singapore ()

Mexico Exports

Date

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Mexico than Singapore included United States ($456B), Canada ($33B), and Spain ($6.04B).

In 2023, countries that imported more from Singapore than Mexico included Hong Kong ($44.5B), Malaysia ($31.4B), and China ($36.7B).

Difference in imports from Singapore () and Mexico () (2023)

Comparative Advantage Mexico - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Singapore in the exports of Machines ($1.37B), Instruments ($412M), and Mineral Products ($156M).

During 2018, Singapore had a large net trade with Mexico in the exports of Machines ($1.29B), Mineral Products ($438M), and Instruments ($258M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Singapore+$136MComputers

Top Product Potential Singapore Mexico+$369MIntegrated Circuits

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Mexico and Singapore. This means that a dot/product with the flag of Mexico indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Mexico.

About

Historical Data

Bilateral Trade by Products

Exports from Mexico () to Singapore () (2023)

Exports from Singapore () to Mexico () (2023)

Latest Data

Trade between Mexico () and Singapore ()

Mexico Exports

Singapore Exports

Market Competitiveness

Difference in imports from Singapore () and Mexico () (2023)

Comparative Advantage Mexico - Singapore

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Mexico () and Singapore () (2023)

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