Mexico (MEX) and Italy (ITA) Trade | The Observatory of Economic Complexity

About

Mexico-Italy Trade: In 2023, Mexico exported $1.2B to Italy. The main products that Mexico exported to Italy were Crude Petroleum ($151M), Engine Parts ($96.3M), and Feldspar ($63.2M). Over the past 5 years the exports of Mexico to Italy have increased at an annualized rate of 0.86%, from $1.15B in 2018 to $1.2B in 2023.

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

Italy-Mexico Trade: In 2023, Italy exported $7.05B to Mexico. The main products that Italy exported to Mexico were Motor vehicles; parts and accessories (8701 to 8705) ($623M), Washing and Bottling Machines ($260M), and Jewellery ($228M). Over the past 5 years the exports of Italy to Mexico have increased at an annualized rate of 3.5%, from $5.93B in 2018 to $7.05B in 2023.

In 2020, Italy exported services to Mexico worth $246M, with Other business services ($119M), Royalties and license fees ($44.4M), and Travel ($31.9M) being the largest in terms of value.

Comparison: In 2023, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mexico exported $1.2B to Italy. The main products exported from Mexico to Italy were Crude Petroleum ($151M), Engine Parts ($96.3M), and Feldspar ($63.2M). During the last 5 years the exports of Mexico to Italy have increased at an annualized rate of 0.86%, from $1.15B in 2018 to $1.2B in 2023.

In 2018, Italy exported $7.05B to Mexico. The main products exported from Italy to Mexico were Motor vehicles; parts and accessories (8701 to 8705) ($623M), Washing and Bottling Machines ($260M), and Jewellery ($228M). During the last 5 years the exports of Italy to Mexico have increased at an annualized rate of 3.5%, from $5.93B in 2023 to $7.05B in 2018.

Exports from Mexico () to Italy () (2023)

Exports from Italy () to Mexico () (2023)

Latest Data

Trade between Mexico () and Italy ()

Mexico Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Italy
Top DestinationGermany$71.4B

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

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

In 2023, countries that imported more from Italy than Mexico included Germany ($71.4B), France ($61.1B), and Switzerland ($29.3B).

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

Comparative Advantage Mexico - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Italy in the exports of Machines ($409M), Mineral Products ($220M), and Metals ($143M).

During 2018, Italy had a large net trade with Mexico in the exports of Machines ($3.06B), Transportation ($776M), and Chemical Products ($589M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Italy+$100MMotor vehicles; parts and accessories (8701 to 8705)

Top Product Potential Italy Mexico+$247MMotor vehicles; parts and accessories (8701 to 8705)

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

Ita Year

In 2020, Italy exported services to Mexico worth $246M, with Other business services ($119M), Royalties and license fees ($44.4M), and Travel ($31.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy () to Mexico () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Mexico () to Italy () (2023)

Exports from Italy () to Mexico () (2023)

Latest Data

Trade between Mexico () and Italy ()

Mexico Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Mexico - Italy

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Services Exports from Italy () to Mexico () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Keep Exploring