Mexico2019 Economic Complexity : 1.22, Rank 21 of 146
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
2019 Service Exports | Imports : $31.7B | $39.5B, 13 of 69 | 11 of 69
Overview In 2019 Mexico was the number 15 economy in the world in terms of GDP (current US$), 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), and Cyanides ($152M)
Location Mexico borders Belize, Guatemala, and United States by land and Cuba and Honduras by sea.
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).
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).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Mexico Exports Services (2019): $31.7B
Mexico Imports Services (2019): $39.5B
In 2019, Mexico exported $31.7B worth of services. The top services exported by Mexico in 2019 were Personal travel ($23.2B), Insurance services ($3.12B), Transportation ($2.94B), Business travel ($1.37B), and Financial services ($430M).
The top services imported by Mexico in 2019 were Transportation ($14.8B), Personal travel ($7.96B), Insurance services ($6.24B), Financial services ($3.85B), and Other business services ($3.4B).
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.
*The tariffs applied to imports for Mexico are:
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.
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.
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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Mexico's economy has become relatively more 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.