Overview: In 2018 Mexico was the number 15 economy in the world in terms of GDP (current US$), the number 11 in total exports, the number 13 in total imports,
the number 79 economy in terms of GDP per capita (current US$) and the number 21 most complex economy according to the Economic Complexity Index (ECI)
In 2018, Mexico exported a total of $441B, making it the number 11 exporter in the world. During the last five reported years the exports of Mexico have changed by $53.7B from $388B in 2013 to $441B in 2018.
In 2018 Mexico imported $416B, making it the number 13 trade destination in the world. During the last five reported years the imports of Mexico changed by $50.1B from $366B in 2013 to $416B in 2018.
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).
This section shows forecasts for total product exports and imports for Mexico. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
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.
Mexico has a high level of specialization in Railway Freight Cars (14), Beer (12.1), Tomatoes (10.3), Tropical Fruits (9.57), and Glazed Ceramics (8.75). Specialization is measured using RCA, an index that takes the ratio between Mexico observed and expected exports in each product.
The top export opportunities for Mexico according to the relatedness index, are Scrap Iron (0.22), Raw Iron Bars (0.22), Locust beans, seaweed, sugar beet, cane, for food (0.22), Molasses (0.22), and Cement (0.22). 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.
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.