Mexico (MEX) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Mexico-Russia Trade: In 2023, Mexico exported $2.35M to Russia. The main products that Mexico exported to Russia were Hard Liquor ($1.29M), Coffee ($650k), and Other Fruits ($404k). Over the past 5 years the exports of Mexico to Russia have decreased at an annualized rate of 69.6%, from $902M in 2018 to $2.35M in 2023.

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

Russia-Mexico Trade: In 2023, Russia exported $505M to Mexico. The main products that Russia exported to Mexico were Mixed Mineral or Chemical Fertilizers ($207M), Nitrogenous Fertilizers ($155M), and Potassic Fertilizers ($38.2M). Over the past 5 years the exports of Russia to Mexico have decreased at an annualized rate of 26.3%, from $2.32B in 2018 to $505M in 2023.

In 2020, Russia exported services to Mexico worth $32.6M, with Financial services ($21.8M), Transportation ($6.89M), and Travel ($1.69M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mexico exported $2.35M to Russia. The main products exported from Mexico to Russia were Hard Liquor ($1.29M), Coffee ($650k), and Other Fruits ($404k). During the last 5 years the exports of Mexico to Russia have decreased at an annualized rate of 69.6%, from $902M in 2018 to $2.35M in 2023.

In 2018, Russia exported $505M to Mexico. The main products exported from Russia to Mexico were Mixed Mineral or Chemical Fertilizers ($207M), Nitrogenous Fertilizers ($155M), and Potassic Fertilizers ($38.2M). During the last 5 years the exports of Russia to Mexico have decreased at an annualized rate of 26.3%, from $2.32B in 2023 to $505M in 2018.

Exports from Mexico () to Russia () (2023)

Exports from Russia () to Mexico () (2023)

Latest Data

Trade between Mexico () and Russia ()

Mexico Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Mexico than Russia included United States ($456B), Canada ($33B), and Germany ($10.7B).

In 2023, countries that imported more from Russia than Mexico included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Mexico - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Russia in the exports of Foodstuffs ($1.29M), Vegetable Products ($1.05M), and Plastics and Rubbers ($3.67k).

During 2018, Russia had a large net trade with Mexico in the exports of Chemical Products ($401M), Metals ($53.6M), and Vegetable Products ($37.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Russia+$9.24MTelephones

Top Product Potential Russia Mexico+$58MRaw Aluminium

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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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Mexico worth $32.6M, with Financial services ($21.8M), Transportation ($6.89M), and Travel ($1.69M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () 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 Russia. This means that a dot/product with the flag of Mexico indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Mexico.

About

Historical Data

Bilateral Trade by Products

Exports from Mexico () to Russia () (2023)

Exports from Russia () to Mexico () (2023)

Latest Data

Trade between Mexico () and Russia ()

Mexico Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Mexico - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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