Vietnam (VNM) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Vietnam-Mexico Trade: In 2023, Vietnam exported $9.85B to Mexico. The main products that Vietnam exported to Mexico were Integrated Circuits ($2.63B), Broadcasting Equipment ($1.53B), and Office Machine Parts ($664M). Over the past 5 years the exports of Vietnam to Mexico have increased at an annualized rate of 19.9%, from $3.98B in 2018 to $9.85B in 2023.

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

Mexico-Vietnam Trade: In 2023, Mexico exported $214M to Vietnam. The main products that Mexico exported to Vietnam were Integrated Circuits ($97.3M), Broadcasting Equipment ($46.9M), and Tanned Equine and Bovine Hides ($19.7M). Over the past 5 years the exports of Mexico to Vietnam have decreased at an annualized rate of 9.18%, from $1.21B in 2018 to $214M in 2023.

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

Comparison: In 2023, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). That same year, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Vietnam exported $9.85B to Mexico. The main products exported from Vietnam to Mexico were Integrated Circuits ($2.63B), Broadcasting Equipment ($1.53B), and Office Machine Parts ($664M). During the last 5 years the exports of Vietnam to Mexico have increased at an annualized rate of 19.9%, from $3.98B in 2018 to $9.85B in 2023.

In 2018, Mexico exported $214M to Vietnam. The main products exported from Mexico to Vietnam were Integrated Circuits ($97.3M), Broadcasting Equipment ($46.9M), and Tanned Equine and Bovine Hides ($19.7M). During the last 5 years the exports of Mexico to Vietnam have decreased at an annualized rate of 9.18%, from $1.21B in 2023 to $214M in 2018.

Exports from Vietnam () to Mexico () (2023)

Exports from Mexico () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Mexico ()

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$118B

Mexico
Top DestinationUnited States$456B

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

In 2023, countries that imported more from Vietnam than Mexico included China ($85.7B), Japan ($25.1B), and Hong Kong ($17.1B).

In 2023, countries that imported more from Mexico than Vietnam included United States ($456B), Canada ($33B), and Guatemala ($3.2B).

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

Comparative Advantage Vietnam - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Vietnam had a large net trade with Mexico in the exports of Machines ($7.11B), Textiles ($623M), and Footwear and Headwear ($515M).

During 2018, Mexico had a large net trade with Vietnam in the exports of Machines ($190M), Animal Hides ($19.7M), and Metals ($2.13M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Mexico+$465MTelephones

Top Product Potential Mexico Vietnam+$95.9MIntegrated 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 Vietnam and Mexico. This means that a dot/product with the flag of Vietnam indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Vietnam.

About

Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Mexico () (2023)

Exports from Mexico () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Mexico ()

Mexico Exports

Market Competitiveness

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

Comparative Advantage Vietnam - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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