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

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Russia (RUS) and Mexico (MEX) Trade

2022

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Exports $648MRnk 53 / 138

2022

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Top Product $238MNitrogenous Fertilizers

2022

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Exports $13.2MRnk 105 / 156

2022

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About

Russia-Mexico In 2022, Russia exported $648M to Mexico. The main products that Russia exported to Mexico are Nitrogenous Fertilizers ($238M), Raw Aluminium ($165M), and Mixed Mineral or Chemical Fertilizers ($120M). During the last 27 years the exports of Russia to Mexico have increased at an annualized rate of 9.32%, from $58.4M in 1995 to $648M in 2022.

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.

Mexico-Russia In 2022, Mexico exported $13.2M to Russia. The main products that Mexico exported to Russia were Scrap Copper ($8.7M), Broadcasting Equipment ($1.53M), and Pepper ($1.03M). During the last 27 years the exports of Mexico to Russia have decreased at an annualized rate of 0.99%, from $17.2M in 1995 to $13.2M in 2022.

In 2022, Mexico did not export any services to Russia.

Comparison In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Mexico ranked 25 in the Economic Complexity Index (ECI 1.08), and 10 in total exports ($549B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $266M and imported $108M from Mexico, resulting in a positive trade balance of $158M. Between January 2021 and January 2022 the exports of Russia have increased by $134M (102%) from $131M to $266M, while imports increased by $31M (40.3%) from $77M to $108M.

Trade In January 2022, the top exports of Russia to Mexico were Semi-Finished Iron ($93.9M), Hot-Rolled Iron ($9.4M), Nitrogenous Fertilizers ($6.93M), Synthetic Rubber ($4.73M), and Flat Flat-Rolled Steel ($2.55M). In January 2022 the top imports of Russia from Mexico were Cars ($16.2M), Motor vehicles; parts and accessories (8701... ($8.93M), Hard Liquor ($5.45M), Other Heating Machinery ($4.83M), and Medical Instruments ($3.74M).

Origins In January 2022 the exports of Russia were mainly from LIPETSK REGION ($213M), KIROV REGION ($9.44M), PERM TERRITORY ($8.51M), REPUBLIC OF KHAKASSIA ($7.11M), and IRKUTSK REGION ($6.1M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($46.3M), ST. PETERSBURG ($28.5M), MOSCOW REGION ($9.71M), REPUBLIC OF TATARSTAN ($7.5M), and KALUGA REGION ($5.59M).

Growth In January 2022, the increase in Russia's year-by-year exports to Mexico was explained primarily by an increase in product exports in Semi-Finished Iron ($20.5M or 28%), Hot-Rolled Iron ($8.93M or 1.9k%), and Flat Flat-Rolled Steel ($2.3M or 935%). In January 2022, the increase in Russia's year-by-year imports from Mexico was explained primarily by an increase in product imports in Cars ($14.1M or 661%), Other Heating Machinery ($4.8M or 16.2k%), and Motor vehicles; parts and accessories (8701... ($2.49M or 38.6%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2021 - January 2022)$134M(102%)

IMPORT GROWTH (January 2021 - January 2022)$31M(40.3%)

MAIN EXPORTER (January 2022)LIPETSK REGION$213M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Mexico and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $648M to Mexico. The main products exported from Russia to Mexico were Nitrogenous Fertilizers ($238M), Raw Aluminium ($165M), and Mixed Mineral or Chemical Fertilizers ($120M). During the last 27 years the exports of Russia to Mexico have increased at an annualized rate of 9.32%, from $58.4M in 1995 to $648M in 2022.

In 2022, Mexico exported $13.2M to Russia. The main products exported from Mexico to Russia were Scrap Copper ($8.7M), Broadcasting Equipment ($1.53M), and Pepper ($1.03M). During the last 27 years the exports of Mexico to Russia have decreased at an annualized rate of 0.99%, from $17.2M in 1995 to $13.2M in 2022.

Exports from Russia () to Mexico () (2022)

Exports from Mexico () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Mexico
Top DestinationUnited States$421B

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

In 2021, countries that imported more from Russia than Mexico were China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2021, countries that imported more from Mexico than Russia were United States ($421B), Canada ($22.2B), and Colombia ($3.6B).

Difference in imports from Mexico () and Russia () (2022)

Comparative Advantage Russia - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Mexico in the exports of Chemical Products ($405M), Metals ($204M), and Plastics and Rubbers ($18.2M).

During 2022, Mexico had a large net trade with Russia in the exports of Metals ($8.7M), Machines ($1.97M), and Vegetable Products ($1.62M).

Service Trade

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)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Russia has comparative advantage over Mexico. Similarly, the more yellow a dot/product is, the more Mexico has comparative advantage over Russia.

Product Space of Russia () and Mexico () (2022)

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