Flag Mexico

2019
Economic
Complexity
: 1.27, Rank 21 of 157

2019
Product
Exports | Imports
: $480B | $433B, 9 of 225 |  13 of 225

2019
Per Capita Product
Exports | Imports
: $3.76k | $3.39k, 43 of 219 |  94 of 219

2018
Service
Exports | Imports
: $28.7B | $35.2B, 19 of 88 | 16 of 88

Overview: In 2019 Mexico was the number 15 economy in the world in terms of GDP (current US$), the number 9 in total exports, the number 13 in total imports, the number 72 economy in terms of GDP per capita (current US$) and the number 21 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Mexico are Cars ($53.1B), Computers ($32.4B), Vehicle Parts ($31.2B), Delivery Trucks ($26.9B), and Crude Petroleum ($26.6B), exporting mostly to United States ($361B), Canada ($21.3B), China ($8.86B), Germany ($8.73B), and Chinese Taipei ($6.98B).

In 2019, Mexico was the world's biggest exporter of Delivery Trucks ($26.9B), Tractors ($10.7B), Beer ($5.07B), Tropical Fruits ($3.6B), and Railway Freight Cars ($3.57B)

Imports: The top imports of Mexico are Integrated Circuits ($29.8B), Refined Petroleum ($29.3B), Vehicle Parts ($27.2B), Office Machine Parts ($16.5B), and Cars ($9.87B), importing mostly from United States ($235B), China ($62.5B), Germany ($16.1B), South Korea ($14.3B), and Japan ($12.6B).

In 2019, Mexico was the world's biggest importer of Other Sugars ($639M), Corrugated Paper ($354M), Aluminium Pipes ($261M), Stranded Copper Wire ($220M), Cyanides ($152M)

Location: Mexico borders Belize, Guatemala, and United States by land and Cuba and Honduras by sea.

Yearly Exports

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Value
Depth

Top Export (2019): Cars, $53.1B

Top Destination (2019): United States, $361B

In 2019, Mexico exported a total of $480B, making it the number 9 exporter in the world. During the last five reported years the exports of Mexico have changed by $77.7B from $403B in 2014 to $480B in 2019.

The most recent exports are led by Cars ($53.1B), Computers ($32.4B), Vehicle Parts ($31.2B), Delivery Trucks ($26.9B), and Crude Petroleum ($26.6B). The most common destination for the exports of Mexico are United States ($361B), Canada ($21.3B), China ($8.86B), Germany ($8.73B), and Chinese Taipei ($6.98B).

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Yearly Imports

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Value
Depth

Top Import (2019): Integrated Circuits, $29.8B

Top Origin (2019): United States, $235B

In 2019 Mexico imported $433B, making it the number 13 trade destination in the world. During the last five reported years the imports of Mexico changed by $66.5B from $366B in 2014 to $433B in 2019.

The most recent imports of Mexico are led by Integrated Circuits ($29.8B), Refined Petroleum ($29.3B), Vehicle Parts ($27.2B), Office Machine Parts ($16.5B), and Cars ($9.87B). The most common import partners for Mexico are United States ($235B), China ($62.5B), Germany ($16.1B), South Korea ($14.3B), and Japan ($12.6B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

  • Malaysia, $2.19B (+ 24.7%)
  • Vietnam, $1.49B (+ 42.4%)
  • Chinese Taipei, $731M (+ 12.7%)

Mexico Exports Services (2018): $28.7B

Mexico Imports Services (2018): $35.2B

In 2018, Mexico exported $28.7B worth of services. The top services exported by Mexico in 2018 were Personal travel ($20.8B), Reinsurance ($3.28B), Air transport ($1.71B), Business travel ($1.68B), and Financial services ($443M).

The top services imported by Mexico in 2018 were Sea transport ($9.24B), Personal travel ($9.07B), Air transport ($6.15B), Reinsurance ($4.63B), and Miscellaneous business, professional, and technical services ($2.33B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Mexico are Fructose, chemically pure (75%) and Fructose, syrup > 50% fructose, not pure fructose (75%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Mexico are:
5: AAP.A25TM - 37 Acuerdo Nº37 Suscrito al Amparo del Artículo 25 del TM80 celebrado entre la República de Guatemala y los Estados Unidos Mexicanos
6: AAP.A25TM N° 14 Acuerdo de Alcance Parcial entre los Estados Unidos Mexicanos y la República de Panamá
34: AAP.CE N° 33 Acuerdo de Complementación Económica N° 33 Colombia México Venezuela
40: AAP.CE N° 41 Tratado de Libre Comercio
47: AAP.CE N° 51 Acuerdo de Complementación Económica N° 51 Celebrado entre los Estados Unidos Mexicanos y la República de Cuba
49: AAP.CE N° 53 Acuerdo de Complementación Económica N° 53 entre la República Federativa del Brasil y los Estados Unidos Mexicanos
50: AAP.CE N° 55 Acuerdo de Complementación Económica N° 55 celebrado entre el MERCOSUR y los Estados Unidos Mexicanos
62: AAP.CE N° 6 Acuerdo de Complementación Económica N° 6
63: AAP.CE N° 60 Acuerdo de Complementación Económica N° 60 Suscrito entre la República Oriental del Uruguay y los Estados Unidos Mexicanos
66: AAP.CE N° 66 Acuerdo de Complementación Económica No. 66 Celebrado entre los Estados Unidos Mexicanos y el Estado Plurinacional de Bolivia
69: AAP.CE Nº 67 Acuerdo de integración Comercial entre los Estados Unidos Mexicanos y la República del Perú
72: AAP.R N° 29 Acuerdo de Alcance Parcial de Renegociación N° 29 Celebrado entre la República del Ecuador y los Estados Unidos Mexicanos
73: AAP.R N° 38 Acuerdo de Alcance Parcial de Renegociación N° 38 Celebrado entre la República de México y la República del Paraguay
79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
142: North American Free Trade Agreement (NAFTA)
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
207: Preferential tariff for El Salvador
219: Preferential tariff for European Union countries (AA) Association Agreement
233: Preferential tariff for Honduras
238: Preferential tariff for Iceland
244: Preferential tariff for Israel
246: Preferential tariff for Japan
279: Preferential tariff for Nicaragua
281: Preferential tariff for Norway
289: Preferential tariff for Peru
306: Preferential tariff for Switzerland

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Mexico's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨31st to the 21st⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Mexico has a high level of specialization in Railway Freight Cars (19.3), Beer (11.6), Tomatoes (9.11), Tropical Fruits (9.01), and Cucumbers (8.42). Specialization is measured using RCA, an index that takes the ratio between Mexico observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Mexico according to the product complexity index (PCI) are Taps, cocks, valves for pipes, tanks, boilers, etc (1.54), Equipment to measure fluid flow, level, pressure, etc (1.51), Hand tools incorporating electric motors (1.45), Pumps for liquids (1.41), and Electrical machinery and apparatus, nes (1.4). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Mexico according to the relatedness index, are Cement (0.2), Scrap Iron (0.2), Raw Iron Bars (0.2), Soap (0.2), and Rolled Tobacco (0.2). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Mexico is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.